Dominion Voting Systems abruptly reached a $787.5 million settlement with Fox News on Tuesday in its massive defamation suit against the media giant, the same day the blockbuster trial was expected to begin.

Delaware Superior Court Judge Eric M. Davis thanked the jury of 12 people who were sworn in earlier in the day.

Without you, the parties would not have been able to resolve their situation, he said before telling the lawyers on each side they had also done good work.

The court was about to reconvene from a lunch break when a delay allowed lawyers from both sides to work out a deal.

Fox News hailed the compromise while also admitting that it broadcast falsehoods:

We are pleased to have reached a settlement of our dispute with Dominion Voting Systems. We acknowledge the Courts rulings finding certain claims about Dominion to be false. This settlement reflects FOXs 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.

An attorney for Dominion, Justin Nelson, said the agreement represented accountability.

The truth matters, Nelson told members of the press outside the courthouse.

Fox has admitted to telling lies about Dominion that caused enormous damage to my company, our employees, and the customers that we serve, Dominion CEO John Poulos said, adding that his side believes the evidence brought to light through this case underscores the consequences of spreading lies.

The decision means the right-wing cable network will avoid a potentially embarrassing trial and protect top brass from publicly testifying. It also serves to inoculate the network from legal repercussions linked to the spread of misinformation during and after the 2020 presidential election at least for now.

Dominions lawyers said in a court filing they planned to call a number of high-profile figures to the stand, including Fox founder Rupert Murdoch, his son Lachlan, network hosts Tucker Carlson and Sean Hannity , and a number of top executives.

The Wilmington courthouse had been packed to the brim with reporters, according to those at the scene.

The defamation trial was set to begin Monday before it was suddenly delayed Sunday night, prompting reports that Fox News was pushing for a last-minute settlement. Dominion had previously insisted the company would settle only if Fox issued an apology and admitted to spreading lies on the air.