April 18 (Reuters) - Staple Street Capital Group LLC, the small buyout firm that owns Dominion Voting Systems, has scored a $787.5 million windfall after Fox Corp (FOXA.O) settled a defamation lawsuit brought by the voting machine operator.
The amount is equivalent to 20 times the $38.3 million the New York-based private equity firm paid in 2018 to acquire a 76.2% stake in Dominion. Staple Street has $900 million in assets under management, according to its website.
... Mark Hauser, managing partner of Hauser Private Equity, welcomed the settlement news.
"We are very pleased with the outcome and think that Staple Street has handled the situation very well on behalf of their investors. We’ve had a relationship with Staple Street since 2014 and think highly of their management team," he said.
Full story: https://www.reuters.com/legal/foxs-7875-million-settlement-is-big-win-buyout-firm-staple-street-2023-04-18/
The Fox News electronic ticker is seen at the News Corporation building in New York City, in New York, U.S. November 8, 2017. REUTERS/Shannon Stapleton