Newsmax has agreed to pay Smartmatic $40 million as part of a settlement last year following a defamation lawsuit. The settlement included a cash payment and an option to purchase stock in Newsmax. The company has already paid $20 million, with the rest to be paid before July. Newsmax believes that the settlement will eliminate future legal expenses related to the lawsuit. The lawsuit stemmed from false claims by Newsmax that Smartmatic manipulated the 2020 presidential election. Smartmatic settled a related lawsuit with One America News and is now focused on a similar case against Fox News. Fox Corp. reached a settlement in 2023 to pay $787.5 million to Dominion Voting Systems to settle defamation claims. The details of the settlement between Newsmax and Smartmatic provide insight into the agreement that was not publicly available last year. Newsmax acknowledged that the court found the allegations regarding the election manipulation by Smartmatic to be false. The settlement with Smartmatic will help Newsmax avoid costly legal expenses that could have arisen if the case went to trial.icomment from Smartmatic’s lawyer indicates that they are looking forward to presenting their evidence in the case against Fox News. Fox News has maintained that their coverage of the 2020 election was newsworthy.
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