Newsmax Discloses $40 Million Settlement with Smartmatic Over 2020 Election Claims

The settlement resolves defamation allegations tied to false reports about Smartmatic’s role in the 2020 U.S. presidential election.

Newsmax agreed to pay $40 million to Smartmatic as part of a settlement reached in September 2024, according to a recent regulatory filing.
The lawsuit stemmed from false claims aired by Newsmax alleging Smartmatic's involvement in rigging the 2020 presidential election.
The settlement includes a cash payment and a warrant allowing Smartmatic to purchase shares in Newsmax, with $20 million already paid and the remaining balance due by mid-2025.
Newsmax acknowledged in a statement that allegations about Smartmatic altering the 2020 election results were factually false.
Smartmatic continues to pursue defamation cases against other outlets, including Fox News, which previously settled a similar case with Dominion Voting Systems for $787.5 million.