Newsmax has agreed to pay Smartmatic $40 million as part of a settlement reached last year in response to a defamation lawsuit. The settlement includes a cash payment and an option to purchase stock in Newsmax. The payments have already begun, with the remaining amount to be paid before July. Newsmax believes that this settlement will eliminate future legal expenses related to the lawsuit. The lawsuit was centered around false claims made by Newsmax that Smartmatic manipulated the 2020 presidential election in favor of Joe Biden.
The settlement details provide insight into the confidential agreement that was not publicly available previously. Smartmatic also settled a defamation lawsuit against One America News for an undisclosed sum. Smartmatic’s lawyer has stated that they are now focused on a similar case against Fox News. Fox News’ parent company, Fox Corp., settled with Dominion Voting Systems for $787.5 million to resolve their defamation claims. Newsmax has acknowledged the court’s findings that the claims about Smartmatic were false and is working to put the lawsuit behind them through the settlement. Fox News has maintained that they were covering newsworthy events surrounding the 2020 election.
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