Newsmax to Pay $40 Million in Smartmatic Defamation Settlement

Half of the total amount, $20 million, has already been transferred to Smartmatic, with the remaining balance scheduled for payment by July. As part of the resolution, the technology company also secured an option to purchase equity in Newsmax, which is currently preparing for a New York Stock Exchange listing on March 31.

The litigation stemmed from a 2021 lawsuit in which Smartmatic accused the network of systematically spreading falsehoods about its voting machines to damage the company’s reputation. While this chapter closes, Newsmax remains entangled in a separate, high-stakes defamation suit brought by Dominion Voting Systems. In its recent filing, the network acknowledged that an unfavorable verdict in that ongoing case could significantly disrupt its financial stability and future cash flows. The landscape of election-related litigation remains volatile, as Smartmatic continues its separate $2.7 billion battle against Fox Corp.