Newsmax’s Secret Smartmatic Settlement: $40 Million

The Independent reports:

When right-wing network Newsmax and Smartmatic agreed to settle the voting software firm’s election defamation lawsuit last fall, the financial terms of the agreement were not disclosed and seemingly remained confidential. That is no longer the case.

In a regulatory filing released this week by Newsmax as part of its planned initial public offering, the channel revealed that it agreed to pay Smartmatic $40 million as well as issue a “five-year cash exercise warrant” for the voting machine firm to purchase 2,000 shares of preferred stock in the conservative cable channel.

The investment prospectus also noted that there was an inherent risk to investors due to the ongoing defamation case brought by Dominion Voting Systems, which is set to go to trial next month.

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