Newsmax has settled a defamation lawsuit with Smartmatic, agreeing to pay $40 million due to false allegations about the voting machines aired during the 2020 election. Although the settlement was confidential, a regulatory filing revealed the payment structure, which includes an initial $20 million with the balance due by July. The agreement also allows for Smartmatic to purchase shares in Newsmax ahead of its upcoming NYSE listing. Newsmax continues to face legal challenges from Dominion, another voting machine company, potentially impacting its financial position.
Newsmax has agreed to pay $40 million to settle defamation claims by Smartmatic related to false allegations aired during the 2020 presidential election.
The settlement allows Newsmax to pay $20 million now and the remainder by July, with options to buy shares in the company.
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