Newsmax has agreed to pay Smartmatic $40 million as part of a settlement reached last year after the voting technology company filed an election defamation lawsuit against the right-wing news outlet. The settlement included a cash payment and an option to purchase stock in Newsmax, with $20 million already paid and the rest due before July. Newsmax stated that the settlement will help eliminate future legal expenses related to the lawsuit. Details of the payments provide insight into the confidential agreement that was not publicly available last year.
The lawsuit against Newsmax centered on false claims that Smartmatic manipulated the 2020 presidential election in favor of Joe Biden. After the settlement, Newsmax acknowledged that the court found the allegations to be factually false. Smartmatic also settled a lawsuit against One America News for an undisclosed sum, and is now focused on a similar case against Fox News.
Fox Corp. reached a settlement in 2023 to pay $787.5 million to Dominion Voting Systems to settle defamation claims related to the 2020 election. Smartmatic’s external lawyer stated that they look forward to presenting evidence in the case against Fox News and holding them accountable for their actions. Fox News has maintained that they covered newsworthy events surrounding the election. Newsmax did not immediately respond to a request for comment regarding payment to Smartmatic.
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