One of the central planks of Donald Trump’s 2024 campaign was his insistence that the 2020 election was stolen.
A key target of those false claims was Dominion Voting Systems, the election technology firm Trump allies accused of rigging votes for Joe Biden. And right-wing outlets like Newsmax (NMAX) became one of the loudest megaphones.
Dominion sued Newsmax in 2021 for libel, alleging that the network knowingly aired conspiracy theories about election fraud.
The $1.6 billion suit detailed 18 false statements broadcast on television — and at least one made on social media — including claims that Dominion manipulated vote counts through its software and maintained shady ties to a Venezuelan company.
In March, Delaware Superior Court Judge Eric Davis ruled that Newsmax had indeed made defamatory statements, though he left damages to be decided at trial.
That trial won’t happen. In an SEC filing Monday, Newsmax said it agreed to settle with Dominion for $67 million, payable in three installments through 2027.
Pattern of settlements
A Dominion spokeswoman said the company “was pleased to have settled this matter.”
It’s not Dominion’s first victory. Last year it forced Fox Corp. to pay $787.5 million to resolve similar claims that Fox News knowingly aired election-related conspiracy theories.
For its part, Newsmax struck a defiant tone. In its statement, the company said it “believed it was critically important for the American people to hear both sides of the election disputes that arose in 2020” and insisted its coverage was “fair, balanced, and conducted within professional standards of journalism.”
At the same time, it argued Judge Davis’ courtroom would not have provided “a fair trial wherein the Company could present standard libel defenses to a jury.” Newsmax shares jumped 10.9% on the settlement news.
Close Trump ties
The settlement underscores how tightly Newsmax remains tied to Trump’s political brand. The network was recently named the “flagship” news channel for Truth+, Trump Media and Technology Group’s (DJT) new streaming platform.
It also continues a pattern of legal cleanups. Just last September, Newsmax settled a separate defamation lawsuit with election tech firm Smartmatic for $40 million, days before filing for its IPO.
With two costly settlements now on the books in less than a year, Newsmax has bought itself some legal peace but at a steep price.
Your email address will not be published. Required fields are markedmarked