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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.

A Newsmax booth broadcasts as attendees try out the guns on display at the National Rifle Association (NRA) annual convention in Houston, Texas, U.S. May 29, 2022. Picture taken through glass. REUTERS/Callaghan O'Hare
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A Newsmax microphone in the spin room ahead of the first vice presidential debate at the CBS Broadcast Center in New York, US, on Tuesday, Oct. 1, 2024. Vice presidential nominees JD Vance and Tim Walz will face off for their first and potentially only debate before the November election Tuesday, as the two Midwesterners with economic populist streaks strive to sway undecided voters in the tight race.
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Overview

  • 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.