Newsmax has agreed to pay Smartmatic $40 million as part of a settlement reached last year after Smartmatic filed an election defamation lawsuit against the right-wing news outlet. The settlement includes a cash payment and an option to purchase stock in Newsmax. Newsmax has already paid $20 million and will pay the rest before July, with the belief that this settlement will eliminate future legal expenses related to the suit. The lawsuit was centered on Newsmax’s false claims that Smartmatic manipulated the 2020 presidential election in favor of Joe Biden. Smartmatic has also settled a defamation lawsuit against One America News, with a similar lawsuit against Fox News pending. 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. Newsmax did not immediately respond to a request for comment on the settlement with Smartmatic. The details of the payments shed light on the confidential settlement agreement not publicly available last year. Smartmatic’s lawyer is focused on holding Fox News accountable in a similar defamation case.
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