Newsmax reached a 'confidential' settlement with Smartmatic last year. We now know how much the MAGA outlet paid [View all]

Source: The Independent

Thursday 13 March 2025 13:34 EDT


When right-wing network Newsmax and Smartmatic agreed to settle the voting software firm’s election defamation lawsuit last fall, the financial terms of the agreement were not disclosed and seemingly remained confidential. That is no longer the case.

In a regulatory filing released this week by Newsmax as part of its planned initial public offering, the channel revealed that it agreed to pay Smartmatic $40 million as well as issue a “five-year cash exercise warrant” for the voting machine firm to purchase 2,000 shares of preferred stock in the conservative cable channel.

The investment prospectus also noted that there was an inherent risk to investors due to the ongoing defamation case brought by Dominion Voting Systems, which is set to go to trial next month. “While Newsmax Media is vigorously defending the Dominion suit, an unfavorable outcome in the matter could have a material adverse effect on the Company’s financial position, results of operations and cash flows,” the company’s filing stated.

“We entered into a confidential settlement with Newsmax in September to resolve litigation and cannot comment further on the details,” J. Erik Connolly, Smartmatic external legal counsel, said in a statement to The Independent. “We are now focused on our litigation against Fox News for defaming Smartmatic and knowingly lying to their viewers about Smartmatic’s role in the 2020 election. We look forward to presenting our evidence to a jury and finally having the opportunity to hold Fox accountable for its harmful actions.” Newsmax did not immediately respond to a request for comment.

Read more: https://www.the-independent.com/news/world/americas/us-politics/newsmax-smartmatic-settlement-amount-b2714541.html