Newsmax agreed to pay $40 million to settle claims that it defamed the voting machine company Smartmatic. The two companies reached a “confidential” settlement agreement last September, but a regulatory filing spotted by The Independent has revealed how much the conservative media outlet will pay.

Newsmax has paid $20 million to Smartmatic so far, with plans to pay off the remainder by July. The settlement also includes the option to buy shares in Newsmax, which plans to list on the NYSE on March 31. Smartmatic sued Newsmax in 2021 after the network aired false allegations that its voting machines helped Joe Biden win the 2020 presidential election. It claimed Newsmax “deliberately disseminated a continuous stream of falsehoods,” harming Smartmatic’s business.

Newsmax still faces another lawsuit from the voting machine company Dominion. “While Newsmax Media is vigorously defending the Dominion suit, an unfavorable outcome in the matter could have a material adverse effect on the Company’s financial position, results of operations and cash flows,” Newmax’s filing reads. 

Smartmatic settled with One America News last year, while a judge recently ruled to allow its $2.7 billion defamation lawsuit against Fox Corp. to continue. Fox News agreed to pay Dominion $787 million in 2023.

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