After months of anticipation, Tuesday morning marked the opening arguments in Dominion's defamation lawsuit against Fox News. The lawsuit, which sought $1.6 billion in damages, accused the network of spreading false claims about vote-counting machines in the 2020 presidential election.

However, as the world waited for Rupert Murdoch and Tucker Carlson to testify in court, a surprise announcement ended the trial altogether - a settlement had been reached. Dominion reportedly settled for $787.5 million. While this amount is significant, it feels inadequate to those who care about truthful reporting and a responsible press in society.

Dominion's lawyers claim that "money is accountability" and that the settlement represents a "ringing endorsement for truth." However, critics argue that a settlement does not hold Fox News accountable for their actions.

There were hopes that this lawsuit could have a positive impact on American democracy and help mitigate the damage done by Fox News' spread of misinformation. Unfortunately, with the settlement, it appears that the opportunity for real change has been lost.

Despite the disappointment, first amendment experts and critics agree that the reputational damage to Fox has already been done.