Dominion had sought $1.6 billion in damages after alleging that the right-wing broadcaster had damaged its reputation by giving credibility to baseless conspiracy theories about its electronic voting equipment playing a role in rigging the 2020 election against Donald Trump.

The settlement was reached at the last minute just as a six-week trial was due to begin in Delaware, CNN Business reports.

Justin Nelson, the attorney representing Dominion, said: “For our democracy to endure for another 250 years, and hopefully much longer, we must share a commitment to facts… Today represents a ringing endorsement for truth and for democracy.”

Lawyers for Fox had sought to argue that it had only reported the “true fact that these were allegations that were being made” and its reports were protected under the First Amendment.

In a statement, Fox said: “This settlement reflects Fox’s continued commitment to the highest journalistic standards. We are hopeful that our decision to resolve this dispute with Dominion amicably, instead of the acrimony of a divisive trial, allows the country to move forward from these issues.”

A separate defamation lawsuit brought against Fox News by another voting technology company, Smartmatic, is still in the early stages.