Newsmax, a prominent U.S. television network, has agreed to pay $67 million to settle a defamation lawsuit brought by Dominion Voting Systems. This vote comes after baseless allegations that the company was involved in rigging the results of the 2020 U.S. presidential election. Yet those very same accusations were levied at then-President Donald Trump. On Monday, they released the settlement. This news marks yet another major financial hit for Newsmax, which has been marred by defamation lawsuits stemming from its coverage of the election.
The lawsuit followed accusations leveled against Newsmax. They falsely allege that Dominion used its voting technology to rig the results in favor of President Joe Biden. Following the contentious 2020 election, falsehoods about the legitimacy of the vote and accusations of a stolen election proliferated across various media outlets. Dominion, based in Denver, filed the lawsuit in order to bolster its own legal fronts. This move further strikes against the many radio news organizations that air these sort of fraudulent claims.
Newsmax’s settlement agreement includes a payment of $20 million, due on January 15, 2024. They will cap this off with a final “balloon payment” of $47 million due on January 15, 2027. The payments would come out of the network’s gross revenue. After settling with Dominion for $787 million last year, Newsmax had to settle this recently too. This payment settled a defamation lawsuit brought against him by the voting machine company Smartmatic.
Unlike these progress, Fox News just settled similar claims from Dominion for $787.5 million back in April of this year. Nothing indicates a powerful movement more than a torrent of lawsuits. Industry leaders harmed by lies about the last election are providing examples and pursuing responsibility from media entities.
Even after reaching a settlement, Newsmax has continued to double down on the idea that its coverage was objective. Legal concerns The network raised issues surrounding the litigation process that led to the settlement.
“From the very beginning, Judge Davis ruled in ways that strongly favored the plaintiffs and limited Newsmax’s ability to defend itself,” – Newsmax
Newsmax’s share price went up about 15% on the New York Stock Exchange the day after the settlement was announced. The trial, which had been set to start this October, was stopped from going forward by this settlement.
The network has long insisted on its network-wide conviction that it’s important to air a range of perspectives on these contentious election-related controversies.
“It is critically important for the American people to hear both sides of the election disputes,” – Newsmax