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Thank you for this much needed perspective. While the FCC's actions reek of overreach, ABC folding like a cheap card table just didn't sit well with me. Especially considering how CBS' parent company went to court first before cancelling Colbert. It makes a lot more sense now.
...and settled. There was no verdict. They settled.
ABC also settled with Trump for “defamation” for $15 million.
If the networks were in a better place financially, they would have been able to fight the defamation case. See Fox vs. Dominion Voting Systems, which Fox ultimately settled in 2023 for $787.5 million right after a jury was seated.
Notice the difference. The former is a failing company’s (ABC) capitulation to a failing businessman because they couldn’t possibly go to court with someone like him. The latter (Dominion) is a successful business who didn’t back away because they weren’t desperate in the first place.