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Newsmax Stock Surges 15% on Dominion Lawsuit Settlement
Newsmax Stock Surges 15% on Dominion Lawsuit Settlement
22
3
BTCCSquare news:
Newsmax shares soared 15% in an otherwise flat trading session after settling a high-profile defamation lawsuit with Dominion Voting Systems for $67 million. The media company will pay the amount in installments over three fiscal years, funded through operational revenue.
Dominion had initially sought $1.6 billion in damages related to Newsmax's 2020 election coverage. While maintaining its reporting was "fair and balanced," Newsmax's substantially reduced liability sparked investor relief. The settlement removes a major overhang for the conservative media outlet.
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