By Costas Pitas and Jack Queen (Reuters) -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.

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,