National: Newsmax agreed to pay Smartmatic $40M in settlement with the voting machine company | Zoë Richards/NBC
Newsmax agreed to pay Smartmatic $40 million as part of a settlement last year following the voting technology company’s election defamation lawsuit against the right-wing news outlet, according to a new regulatory filing. The settlement, reached in September, included a cash payment and an option to purchase stock in Newsmax, the media company said in its filing. Newsmax said payments totaling $20 million have already been made, with the rest coming before July. “Management believes the settlement with Smartmatic will, subject to the payment of all consideration in a timely manner, eliminate future legal expenses the Company would have expected to bear related to this suit, which could have included costly appellate legal actions and other matters,” Newsmax wrote. Read Article