The pro-Trump cable channel Newsmax agreed to pay $40 million in a confidential settlement last year to end a 2020 election-related defamation lawsuit brought by voting technology company Smartmatic,

When Newsmax quietly settled its defamation lawsuit with Smartmatic last year, the financial details remained hidden from public view. But, as the network prepares to go public, those figures are now out in the open: $40 million and a stock warrant.

Cable outlet Newsmax Media has paid $40 million to settle allegations it defamed Smartmatic by reporting false claims that the voting machine company helped rig the 2020 U.S. election for Joe Biden over Donald Trump,