Newsmax has agreed to pay Smartmatic $40 million as part of a settlement following a defamation lawsuit. The settlement includes a cash payment and an option to purchase stock in Newsmax. The agreement will eliminate future legal expenses for Newsmax related to the suit. The lawsuit focused on Newsmax’s false claims that Smartmatic manipulated the 2020 presidential election in favor of Joe Biden. Details of the payments provide insight into the confidential settlement agreement. Smartmatic settled a similar lawsuit against One America News earlier this year. Smartmatic is now focused on a case against Fox News. Fox Corp. has already settled with Dominion Voting Systems for $787.5 million to settle defamation claims. Newsmax, Smartmatic, and other media companies continue to navigate legal challenges related to election misinformation.
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