Newsmax, Smartmatic settle defamation lawsuit

• Newsmax rival OAN settled another defamation suit by Smartmatic in April.
• Fox's $787 million settlement of a defamation suit by Dominion Voting Systems last year marked one of the largest media defamation payouts in history.

Driving the news: Newsmax and Smartmatic settled just as jury selection was underway for a trial set to begin in a few days. Details of the agreement were not made immediately available.

• "Lying to the American people has consequences. Smartmatic will not stop until the perpetrators are held accountable." a Smartmatic spokesperson said.
• Newsmax said on its website it was "pleased to announce it has resolved the litigation brought by Smartmatic through a confidential settlement."

Catch up quick: Smartmatic filed defamation lawsuits against Newsmax and conservative cable rival One America News (OAN) in 2021.

• A judge rejected Newsmax's bid to reduce the number of defamatory statements being considered as a part of the lawsuit on procedural grounds in 2023.

What's next: Newsmax faces a similar defamation lawsuit over airing 2020 election falsehoods from Dominion Voting Systems. That case is set to go to trial next April.

• Smartmatic's $2.7 billion defamation lawsuit against Fox News is expected to go to trial next year.

What to watch: Newsmax said in June that it planned to go public later this year or early next year. It has not yet indicated whether the settlement would affect its plans.