Smartmatic secures a $40 million settlement from Newsmax over 2020 election defamation claims
Lemme toss you the scoop, buddy:
Newsmax, that infamous pro-Trump cable network, coughed up a cool $40 million last year to hush up a defamation lawsuit from Smartmatic, a voting technology company. The illegal dust-up, initiated amid the 2020 election fever, was squashed just before a jury trial in Delaware.
The trickle of cash flowing from Newsmax to Smartmatic was hidden until Newsmax disclosed the amount in an SEC filing, as they're getting their act together for an initial public offering.
Compared to the staggering $787 million Fox News paid out in 2023 to settle a similar case with Dominion, Newsmax's payment looks like pocket change. Both voting giants slapped a handful of right-wing networks, including Newsmax, and pro-Trump figures with lawsuits for falsely accusing them of rigging the 2020 election against the former president.
Newsmax kept their trap shut regarding the settlement details, but they assert they're still battling Dominion in a trial that's set to commence next month.
In that SEC filing, Newsmax hinted that the settlement with Smartmatic would free them from future legal expenses, possibly including costly appellate actions. They also mentioned that they're still standing firm in the courtroom against Dominion.
Newsmax is confident about going public by the end of March, having already raked in approximately $225 million as part of its pre-IPO preferred offering. As part of the settlement, Smartmatic will be ushered into Newsmax's shareholder family, according to the SEC filing.
Smartmatic didn't respond to the settlement inquiry, but they've got Fox News in their sights, aiming for a potential high-stakes trial this year in New York.
"We're now focusing on our litigation against Fox News for defaming Smartmatic and intentionally deceiving their audience about Smartmatic's role in the 2020 election," Smartmatic's lead attorney, Erik Connolly, announced in a statement. "We can't bloody well wait to present our evidence to a jury and hold Fox accountable for their destructive actions."
Fox News denies any misconduct and stubbornly insists their 2020 election coverage was shielded by the First Amendment. CNN reached out to a Fox spokesperson for comment.
- Newsmax, who settled a defamation lawsuit with Smartmatic for $40 million in 2021, will have Smartmatic as a shareholder following their IPO, as mentioned in an SEC filing.
- Smartmatic, a voting technology company, is seeking to take Fox News to trial in New York this year over defamation claims, while Newsmax is engaged in litigation against Dominion.
- In contrast to Newsmax's $40 million settlement with Smartmatic, Fox News paid $787 million in 2023 to settle a similar case with Dominion, according to reports.
