Newsmax has agreed to pay Smartmatic $40 million as part of a settlement last year, which included a cash payment and an option to purchase stock in Newsmax. The media company has already paid $20 million, with the rest to be paid before July. The settlement will eliminate future legal expenses related to the lawsuit, which accused Newsmax of making false claims about Smartmatic’s role in the 2020 presidential election. Smartmatic settled a similar lawsuit with One America News in April, and is now focused on a case against Fox News. Fox Corp. recently settled a defamation lawsuit with Dominion Voting Systems for $787.5 million. Newsmax’s settlement with Smartmatic provides insight into the confidential agreement reached before the case went to trial. Newsmax acknowledged that the court found the allegations against Smartmatic to be false, and the settlement will help eliminate future legal expenses for the company. Smartmatic’s external lawyer stated that the company is looking forward to presenting evidence in a similar case against Fox News, holding them accountable for their actions. The settlement with Newsmax highlights the legal challenges faced by news outlets in the aftermath of the 2020 election.
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