Exclusive: The hefty settlement, which was initially left secret, was disclosed in an investment prospectus this week as the right-wing network looks to go public.
Newsmax settled with Smartmatic for $40 million and a five-year cash exercise warrant to purchase preferred stock, according to a regulatory filing released as part of Newsmax's planned initial public offering. The settlement resolved Smartmatic’s defamation lawsuit related to false claims about the 2020 election. Smartmatic still has pending cases against other right-wing outlets, including Fox News.
