According to The Washington Post, Newsmax, a right-wing news channel, received a significant investment of around $50 million from a royal from Qatar between 2019 and 2020. Documents reviewed by the newspaper and statements from representatives of Newsmax and the royal investment firm corroborate this information.
The investment was made by former Qatari government official Sheikh Sultan bin Jassim Al Thani through Heritage Advisors, his investment fund based in London. The investment took place during a period when Qatar was facing a blockade led by neighboring Arab countries like the United Arab Emirates and Saudi Arabia over accusations of supporting terrorism.
Newsmax was seeking investors to rival big networks such as Fox News at the time of the investment. Some Newsmax employees claimed they were urged to soften their coverage of Qatar after the investment, a claim that Newsmax denies.
A spokesperson for Newsmax stated that their coverage of Qatar has always been fair, including critical reports. The Qatari royal later transferred his ownership to a corporate entity based in the Cayman Islands, which held a significant minority stake in Newsmax.
Newsmax has faced criticism for spreading misinformation, especially related to former President Donald Trump’s unfounded claims of election fraud in the 2020 election. This led to a defamation lawsuit filed by Dominion Voting Systems seeking over a billion dollars in damages.
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