Newsmax recently disclosed that it settled a defamation lawsuit with Smartmatic for $40 million as it prepares for an IPO. The settlement, initially undisclosed, includes a stock warrant allowing Smartmatic to purchase shares of Newsmax. This revelation comes alongside mounting legal pressures for the network, including an upcoming trial against Dominion Voting Systems. Financially, Newsmax reported revenue of $135 million in 2023 but incurred net losses of $55 million in the first half of 2024. With additional legal challenges and settlements, the company faces significant financial strain.
Newsmax quietly settled its defamation lawsuit with Smartmatic for $40 million, disclosed in an investment prospectus just ahead of its IPO.
Facing a massive legal battle with Dominion Voting Systems, Newsmax is under pressure, warning investors of potential adverse effects on its financial position.
Despite generating $135 million in revenue in 2023, Newsmax reported net losses of $55 million in the first half of 2024, highlighting financial strain.
Newsmax has also settled a separate breach of contract dispute and has $34.6 million still pending payment.
Collection
[
|
...
]