Newsmax on Monday agreed to pay $67 million to Dominion Voting Systems in a defamation suit against the conservative media company over 2020 election coverage.
Aug. 18 Newsmax on Monday agreed to pay $67 million to Dominion Voting Systems in a defamation suit against the conservative media company over its 2020 presidential election coverage.
The announcement came as President Donald Trump on Monday reiterated his criticism of certain voting machines and mail-in ballots.
Newmax announced the agreement in a filing with the U.S. Securities and Exchange Commission in which the two sides mutually agreed to resolve the litigation. Dominion, a private company based in Denver, provides voting equipment to jurisdictions in 28 states. The systems include touchscreen screens and paper ballot scanning devices.
The settlement will be paid in installments over three years, which the company said it « expects to fund through revenues. »
Newsmax, which went public in March with an initial public offering of $10 per share for $75 million, has a market capitalization of $1.56 billion.
Last September, Newsmax agreed to a settlement with another voting machine company, Smartmatic, before a trial. The settlement of $40 million wasn’t disclosed until March.
In 2021, Dominion filed suit against Newsmax, seeking $1.6 billion and alleging certain statements made in Newsmax’s coverage about the election were defamatory.
« We are pleased to have settled this matter », a Dominion spokesperson told CNN, declining to comment further.
« The judiciary’s willingness to punish news organizations for reporting on matters of urgent national debate undermines the role of the press in a free society », Newsmax said in a news release.
