Newmax agreed to pay Smartmatic $40 million as part of a settlement last year following the voting technology company’s election defamation lawsuit against the right-wing news outlet, according to a new regulatory filing.

(Reuters) -Cable outlet Newsmax Media has agreed to pay $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, according to a regulatory filing.

Newsmax agreed to pay Smartmatic $40 million in the conservative cable network's settlement of the defamation lawsuit over the airing of 2020 election falsehoods, per a regulatory filing. The big picture: The companies reached a settlement last September that includes the cash settlement "payable over time and the issuance of a five year cash exercise warrant to purchase 2,