Newsmax Media has agreed to pay $40 million to settle a defamation lawsuit brought by voting technology company Smartmatic, which accused the broadcaster of spreading false claims that it helped rig the 2020 US presidential election in favour of Joe Biden over Donald Trump, according to a court filing, reported by Reuters.
The settlement was reached last year, but the terms had remained confidential until they were disclosed in a Newsmax regulatory filing dated March 7.
Smartmatic filed its lawsuit against Newsmax in 2021, alleging that the network aired damaging misinformation, falsely claiming that the company switched votes, that its machines were hacked, and that it was backed by corrupt dictators.
The lawsuit further alleged that Newsmax financially benefited from spreading these false claims. Trump amplified Newsmax’s coverage on social media, and in the aftermath of the election, the network saw a tenfold surge in its audience, surpassing cable news competitors like CNBC and Fox Business, according to Nielsen Ratings.
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