Newsmax agreed to pay Smartmatic $40 million as part of a settlement reached in September last year following a defamation lawsuit. The settlement included a cash payment and an option to purchase stock in Newsmax. $20 million of the payment has already been made, and the rest is expected to be paid before July. Newsmax stated that the settlement will eliminate future legal expenses related to the suit. The lawsuit was centered on Newsmax’s false claims that Smartmatic’s machines manipulated the 2020 presidential election in favor of Joe Biden.
Details of the settlement were not publicly available last year, but the agreement provides insight into the confidential terms. Smartmatic settled a similar lawsuit against One America News in April. Smartmatic’s lawyer stated that the company is now focused on a case against Fox News. Fox News’ parent company, 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.
Following the settlement with Smartmatic, Newsmax acknowledged that the court found the claims regarding the election manipulation by Smartmatic to be false. Newsmax did not immediately respond to a request for comment. The settlement with Smartmatic will eliminate future legal expenses for Newsmax related to the lawsuit. Smartmatic’s lawyer stated that they look forward to presenting their evidence against Fox News in court.
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