Newsmax has agreed to pay Smartmatic $40 million as part of the settlement of a defamation lawsuit over false claims about the 2020 presidential election. The settlement, reached in September, includes a cash payment and the issuance of shares of preferred stock.
Smartmatic had accused Newsmax of spreading baseless conspiracy theories that its voting technology was used to rig the election for former President Biden. The company filed a similar suit against One America News Network, which settled last April.
As part of the settlement, Smartmatic has received $20 million in payments from Newsmax so far. The remaining amount will be paid out over time. Smartmatic is now moving forward with its lawsuit against Fox News, which is defending itself on First Amendment grounds.
The move comes as President Trump continues to address his grievances over federal criminal cases, despite the election being won decisively last November.
Source: https://www.axios.com/2025/03/14/newsmax-smartmatic-defamation-lawsuit-40-million-settle