Fox News, an American conservative news and entertainment network, has reached a $787.5 million settlement with Dominion Voting Systems in a defamation case over false claims that Dominion’s software was complicit in rigging the 2020 U.S. presidential election in favour of Joe Biden.

Dominion had earlier sued Fox News for $1.6 billion in damages over false claims that were aired on the network about the company in the aftermath of the 2020 election – with the corporation echoing unfounded claims by ex-president Donald Trump of a “stolen election” through some of its show hosts, commentators and others. 

The trial was scheduled to commence fully on Tuesday after a day of pushback. 

A jury in Wilmington, Delaware, was already selected – people were only waiting for opening statements as the lawyers for both parties were ready to present their case to the jury before the judge in the trial made a huge announcement.

On Tuesday, Judge Eric M. Davis, who had earlier ruled that some of the claims Fox News had aired about Dominion were false, said the case between Fox Corporation and Dominion Voting Systems was already resolved.

In a last-ditch attempt to solve the two-year case, Fox said in a statement that “we acknowledge the court’s rulings finding certain claims about Dominion to be false” and agreed to pay Dominion $787.5 million to settle the case out of court as there was overwhelming evidence.

“We are hopeful that our decision to resolve this dispute with Dominion amicably, instead of the acrimony of a divisive trial, allows the country to move forward from these issues,” the TV network added.