California Governor Gavin Newsom Slams Fox News (FOXA) with $787M Bombshell Lawsuit

Gavin Newsom just dropped a legal nuke on Fox News—and it's priced at a cool $787 million.

The California governor's lawsuit alleges defamation, misinformation, and what critics call 'financial arson' by the conservative network. No vague accusations here—the dollar figure screams intent.

Fox's parent company FOXA now faces discovery battles that could expose internal comms. Cue the 'fair and balanced' memes.

Wall Street shrugs: 'Another Tuesday in the media-industrial complex.' Meanwhile, FOXA shareholders check their portfolios—and suddenly miss the boring days of cable bundling.

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A graphic shown during the broadcast declared, “Gavin Lied About Trump’s Call,” while Watters pointed to call logs showing a conversation had taken place on June 6 or 7. According to the lawsuit, the phone call did happen, but earlier than Trump had later claimed. Newsom’s legal team argues that Trump misstated the date of the call during a WHITE House briefing and that Fox News took advantage of this inconsistency to falsely paint the governor as dishonest. The suit also claims that Fox’s actions were politically motivated by pointing out that Newsom is a vocal progressive critic of the network’s conservative agenda.

Newsom alleges that Fox distorted the facts to stay in good standing with Trump and amplified the falsehood with selective editing, rather than correcting the record. Newsom is demanding a retraction and a formal on-air apology from Watters in exchange for dropping the suit. His lawyers argue that the network’s actions are essentially propaganda and undermine public trust. However, Fox News responded by calling the lawsuit a “frivolous publicity stunt” designed to suppress criticism and stated that it plans to “defend this case vigorously.”

Is FOXA Stock a Good Buy?

Turning to Wall Street, analysts have a Moderate Buy consensus rating on FOXA stock based on seven Buys, seven Holds, and one Sell assigned in the past three months, as indicated by the graphic below. Furthermore, the average FOXA price target of $58.07 per share implies 2.3% upside potential.