Fox News has agreed to a settlement to pay $90 million to shareholders who filed suit claiming that the company’s lax policies on sexual harassment, which resulted in massive payouts in lawsuits, reduced their dividends and harmed them financially. The case was filed by a city here in Michigan with funds invested in shares of the company.
Twenty-First Century Fox Inc has reached a $90 million settlement of shareholder claims arising from the sexual harassment scandal at its Fox News Channel, which cost the jobs of longtime news chief Roger Ailes and anchor Bill O‘Reilly…Monday’s settlement calls for insurers of Fox officers, Fox directors and Ailes’ estate to pay the $90 million to the New York-based company for the benefit of shareholders.
Fox will enhance governance and said it created the Fox News Workplace Professionalism and Inclusion Council to ensure a proper workplace environment, bolster training and further the recruitment and advancement of women and minorities.
I’m glad to see that the Ailes estate also had to pay part of that settlement because he’s the one who ran the company and he was responsible not only for the actions of the Fox News personalities who sexually harassed women, like O’Reilly, but for his own harassment problems as well. This $90 million is in addition to all the previous payouts it had to make to the victims of that harassment. Perhaps we are finally reaching a point where people and companies are being held responsible for allowing sexual harassment to go on.