Sexual harassment allegations have cost Fox $45M: report
Twenty-First Century Fox has incurred $45 million in costs from litigation related to alleged sexual harassment, according to a new report.
The company disclosed the numbers Monday in a regulatory filing to the Securities and Exchange Commission, The New York Times reported.
The SEC filing said $10 million of the total is “related to settlements of pending and potential litigations” during its fiscal third quarter.
{mosads}“[Twenty-First Century Fox] has also received regulatory and investigative inquiries relating to these matters and stockholder demands to inspect the books and records of the company which could lead to future litigation,” the filing read.
The filing, which covers the nine months leading up to March 31, added that Fox News’s “prime time lineup has significantly changed, which could have a negative impact on our ratings.”
21st Century Fox purportedly reported net income of $799 million, or 43 cents a share, for the quarter that ended March 31. The report is significantly lower than this time last year, when Fox’s net income was $841 million, or 44 cents a share.
Fox News is still dealing with the ousters of O’Reilly in April and CEO Roger Ailes last year. Both men were accused of sexual misconduct by more than one female co-worker before their exits.
O’Reilly left Fox News after the Times reported that five women were paid $13 million over the years to settle sexual harassment suits involving him. The former television host has denied the allegations and said he was the victim of a smear campaign.
Ailes resigned from Fox News in July 2016 and has since repeatedly denied the accusations against him.
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