Newsmax has agreed to pay Smartmatic $40 million as part of a settlement following the voting technology company’s defamation lawsuit against the news outlet. The settlement, reached in September, included a cash payment and an option to purchase stock in Newsmax. Details of the payments provide insight into the confidential settlement agreement that were not publicly available last year. The lawsuit centered on Newsmax’s false claims that Smartmatic’s machines manipulated the 2020 presidential election in favor of Joe Biden. Smartmatic settled a related defamation lawsuit against One America News for an undisclosed amount. Smartmatic’s lawyer stated that the company is now focused on a similar 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. Newsmax’s settlement with Smartmatic will eliminate future legal expenses related to the suit. Payments totaling $20 million have already been made, with the rest coming before July. Newsmax has not commented on the settlement. The agreement was reached shortly before the case was set to go to trial, and Newsmax acknowledged that allegations regarding the 2020 election were factually false.
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