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Mogul Rupert Murdochs moved to settle a 1.6 billion dollar defamation suit against Fox News is said to be a way of avoiding damage to his media Empires reputation as well as shielding himself from a lengthy court appearance Fox is reportedly working to settle with an offer likely to be around 500 million dollars to avoid an apology analysts say it will spare embarrassment and protect the Murdoch Empire which has paid out more than one billion dollars related to phone hacking cases a win in the case is said to set a new bar for us talk TV