Newsmax agreed to pay Smartmatic $40 million as part of a settlement last year in response to a defamation lawsuit. The agreement included a cash payment and an option to purchase stock in Newsmax. The settlement is expected to eliminate future legal expenses related to the lawsuit. The lawsuit centered around false claims made by Newsmax that Smartmatic manipulated the 2020 presidential election in favor of Joe Biden. The settlement was reached shortly before the case was set to go to trial. In a statement, Newsmax acknowledged that allegations against Smartmatic were found to be false. Smartmatic also settled a related lawsuit with One America News for an undisclosed sum. Smartmatic is now focused on a similar case against Fox News. Fox News’ parent company settled with Dominion Voting Systems for $787.5 million in 2023 to settle defamation claims. The details of the payments to Smartmatic provide insight into the confidential settlement agreement that was not publicly available last year. Newsmax said they have already made payments totaling $20 million, with the rest expected to be paid before July. The company did not immediately respond to a request for comment.
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