Newsmax paid Smartmatic $40 million in a settlement last year to resolve a defamation lawsuit related to false claims about the 2020 election. The settlement included a cash payment and an option to purchase stock in Newsmax. The payments were made to avoid costly legal expenses that could have arisen from the lawsuit, including potential appellate actions. The details of the settlement were not publicly available until now, providing insight into the agreement. Smartmatic has also settled a similar lawsuit with One America News and is now focused on a case against Fox News. Fox News’ parent company, Fox Corp., recently settled a defamation lawsuit with Dominion Voting Systems for $787.5 million. The settlement with Newsmax acknowledges that the claims made by the outlet were factually false, and the company is now moving on from the legal battle.
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