Newsmax will pay $40 million to settle Smartmatic voting machine allegations [Verge, The]
Fox Corporation - Class B (FOX)
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Source: Verge, The
Newsmax agreed to pay $40 million to settle claims that it defamed the voting machine company Smartmatic. The two companies reached a “confidential” settlement agreement last September, but a regulatory filing spotted by The Independent has revealed how much the conservative media outlet will pay. Newsmax has paid $20 million to Smartmatic so far, with plans to pay off the remainder by July. The settlement also includes the option to buy shares in Newsmax, which plans to list on the NYSE on March 31. Smartmatic sued Newsmax in 2021 after the network aired false allegations that its voting machines helped Joe Biden win the 2020 presidential election. It claimed Newsmax “deliberately disseminated a continuous stream of falsehoods,”
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