Newsmax Settles Defamation Suit with Smartmatic for $40 Million

Newsmax Media has agreed to pay $40 million to settle accusations of defaming Smartmatic by promoting false claims about the company's role in the 2020 U.S. election. The settlement terms, kept confidential until a March 7 regulatory filing, address allegations of misinformation that significantly boosted Newsmax's viewership.

Newsmax Media has reached a $40 million settlement to resolve allegations it defamed voting machine company Smartmatic. According to a recently disclosed regulatory filing, this financial agreement addresses accusations stemming from the 2020 U.S. election.

Smartmatic claimed that Newsmax spread misleading information suggesting that the company was involved in election fraud, including hacking and connections to corrupt regimes. This allegedly led to increased profits and an expanded audience for the broadcaster.

The lawsuit, filed in 2021, highlighted how Newsmax's broadcast of these unsubstantiated claims resulted in heightened viewership, surpassing rivals like CNBC and Fox Business, fueled by amplified reports through social media.

(With inputs from agencies.)