Newsmax has agreed to pay Smartmatic $40 million as part of a settlement reached last year following a defamation lawsuit. The settlement included a cash payment and an option to purchase stock in Newsmax. The company has already made payments totaling $20 million, with the rest to be paid before July. Newsmax believes that the settlement will eliminate future legal expenses related to the lawsuit. The lawsuit stemmed from false claims made by Newsmax that Smartmatic’s machines manipulated the 2020 presidential election in favor of Joe Biden. The settlement agreement details were not publicly available until now. Smartmatic has also settled a defamation lawsuit against One America News. Smartmatic’s lawyer stated that the company is focused on a similar case against Fox News. Fox News’ parent company, Fox Corp., has already reached a settlement in 2023 to pay $787.5 million to Dominion Voting Systems to settle defamation claims. Newsmax acknowledges the false claims made and the settlement signals the end of the legal battle.
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