This article studies the distributed fault-tolerant bipartite output synchronization problem of discrete-time linear multiagent systems (MASs) with process faults under a general directed signed graph. The reference signal is generated by an autonomous exosystem, which can also be seen as a leader. All followers are divided into two subgroups with antagonistic interactions, and the followers in each subgroup are cooperative. We aim to solve the bipartite fault-tolerant control (FTC) problem via the output regulation theory such that bipartite output synchronization can be achieved in the presence of process faults, that is, the outputs of followers with different subgroups can approach the output of exosystem with the same magnitude and the opposite sign regardless of process faults. To estimate the states and the faults of each follower, a simultaneous state and fault estimator based on the neighboring signed output estimation error and the standard discrete-time algebraic Riccati equation (ARE) is designed. Besides, a new exosystem observer with two classes of convergence conditions relying on the respective solutions of standard and modified AREs is provided. All eigenvalues of the exosystem matrix can lie completely outside the unit circle. Based on these estimations, we present a distributed fault-tolerant output feedback controller, which can overcome the no-loops constraint. Finally, simulation results are given to demonstrate the analytic results.