• Newsmax stock rises 5% after settlement announcement
• Settlement includes three installments totaling $67 million
• Newsmax claims Delaware judge biased against them

Newsmax Media NMAX.N has agreed to pay $67 million to Dominion Voting Systems to settle a $1.6 billion defamation lawsuit over false claims that the voting machine company rigged the 2020 election against U.S. President Donald Trump, it said on Aug. 18.

In an unusual statement, Newsmax said it chose to settle because the Delaware judge handling the case was prejudiced against the company, and it stood by its coverage as fair and balanced.

The Delaware Superior Court declined to comment.

Denver-based Dominion had sought $1.6 billion when it filed the lawsuit in 2021, accusing Newsmax of spreading false claims that Dominion helped steal the election for President Joe Biden.

Newsmax and Newsmax Broadcasting LLC agreed to pay Dominion and its affiliates over three installments, starting with $27 million that was paid on Friday. Newsmax will pay $20 million on January 15 and another $20 million on January 15, 2027.

The company said it would be paid from its revenue.

"We are pleased to have settled this matter," a Dominion spokesperson said in a statement.

Newsmax stock rose around 5% on the New York Stock Exchange to $12.75 a share. The company said the agreement resolved all litigation against it over its coverage of the 2020 election when Biden defeated Trump, who then beat Biden in 2024.

"From the very beginning,...

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