Can Fox News afford the $787.5m Dominion settlement?

In a last-minute deal, Fox News has settled a defamation lawsuit from voting machine firm Dominion over its coverage of the 2020 US election.

The network, controlled by media mogul Rupert Murdoch and his family, agreed to pay Dominion $787.5m (£634m).

The settlement means that Fox and Dominion can now put the case behind them with both firms being able to claim victory.

At almost $800m, it is one of the biggest ever financial settlements in a defamation case.

Rupert Murdoch and his family - who control the News Corp media empire which includes Fox News, The Times of London and The Wall Street Journal - are estimated to have a fortune of $17.6bn, according to Forbes magazine.

It still faces a second, similar defamation lawsuit from another election technology firm, Smartmatic, which is seeking $2.7bn.

It still has outstanding cases against Fox's smaller rivals Newsmax and OAN plus several of former President Donald Trump's associates.