“We don’t expect significant operational effects or changes to our business given our cash flow, strong balance sheet and the health of our business,” the company said in a statement after the settlement was announced. In 2017, Disney settled a defamation suit that was filed in 2012 after ABC aired a segment that questioned the safety of a meat producer’s products that critics dubbed “pink slime.” But one of its insurers, AIG, ended up suing Disney so it wouldn’t have to pay part of the settlement, although AIG eventually lost.įox has also said it doesn’t expect the settlement to affect its operations. Chad Milton, a partner at Media Risk Consultants, said a large media company such as Fox could have anywhere between $100 million to $500 million in coverage, including media liability insurance and other types of insurance.Īnd media companies and insurers don’t always agree on who should cover what, since there are caveats written into contracts that allow insurers to avoid paying under certain circumstances. Big banks such as Bank of America and JPMorgan Chase reportedly also deducted portions of their settlements of charges tied the financial crisis of 2008.Īlso, if Fox is insured, insurance is likely to cover some of the settlement. “The key is that if the payments are being made to private parties and not at the behest of the government then you can pretty much conclude without any fear of contradiction that the payment will be deductible,” he said.Ī study by the Government Accountability Office in 2005 found that of 34 settlements totaling over $1 billion, 20 companies reported deducting some portion or all of their settlement payments. Robert Willens, a tax professor at the Columbia University School of Business, estimates that after the tax write-off, Fox will incur about three-fourths of the settlement amount, about $590 million. Payments that are seen as restitution or compensation can be deducted, while payments made to the government or at the direction of a government are usually not deductible. Allen to protest the rise of Irish, Catholic, and German immigration into the United States.Big companies often deduct large settlements to help offset some of the cost, but since settlement amounts are usually confidential, it’s difficult to pin down exactly how much they benefit. The Order of the Star Spangled Banner (OSSB) was an oath-bound secret society in New York City.dbr:Roman_Catholicism_in_the_United_States.dbr:Anti-Catholicism_in_the_United_States.dbc:Far-right_organizations_in_the_United_States.One of these sensational books – Maria Monk's Awful Disclosures (1836) – sold over 300,000 copies. The authors, sometimes posing as escaped nuns, described the shocking sins they imagined the cloisters concealed, including the secret burial of babies. They promoted a lurid literature of exposure, much of it pure fiction. professed to believe that in due time the "alien riffraff" would "establish" the Catholic church at the expense of Protestantism and would introduce "popish idols." The noisier American "nativists" rallied for political action. According to The American Pageant: Older-stock Americans. Members invariably responded to questions about the OSSB by claiming that they "knew nothing." This practice caused newspaper editor Horace Greeley to label them "Know Nothings." The OSSB would eventually form the nucleus of the nativist Know Nothing movement which ran candidates in 1855–56 under the American Party ticket. They saw Catholics as dangerous, illegal voters under the control of the Pope in Rome. Members were Nativists, citizens opposed to immigration, especially by Catholics. To join the Order, a man had to be at least 21 years old, a Protestant, and willing to obey the Order's dictates without question. Allen to protest the rise of Irish, Catholic, and German immigration into the United States.
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