Newsmax Hits Social Media Follower Mark of 25 Million
Newsmax says that it has hit a major milestone in its digital expansion, surpassing 25 million followers across all social media platforms. The company says that its continuous and significant growth in social media followers – up 25% from a year ago – underscores the brand’s 
“accelerating reach and deepening engagement with audiences nationwide.” Newsmax CEO Christopher Ruddy comments, “This growth shows that Newsmax is truly touching a nerve with audiences. We are continuing to execute on our strategy to reach all people on all platforms, and the results speak for themselves. Passion for our brand remains incredibly strong. We’re seeing audiences actively seek out Newsmax across platforms, share our content, and become part of a growing community that values our reporting and viewpoint.”
Audacy agrees to pay BMI $550,000 in settlement of those claims. Audacy and BMI agree to resolve the fee dispute with 60 days of BMI’s merger. Based on the results of the 2017-2019 Audit, BMI asserted that Audacy owed approximately $1.68 million in fees to BMI. Audacy disputed BMI’s claim and, since 2020, has been negotiating with BMI to settle that matter and any potential claims relating to Audacy’s 2020 revenue subject to license fees. BMI has also asserted that Audacy owes approximately $9.26 million in unpaid license fees and accrued late fees, which Audacy disputes. Audacy says in its filing that this “Settlement is in the best interest of all stakeholders (including Debtors’ secured creditors, the only impaired parties) because it will, subject to the closing of the merger, bring in at least $25 million of funds to the Debtors’ estates (potentially within days of this settlement being approved), with the possibility for up to an additional $13.6 million in the following months.”