As per The Washington Post, Newsmax, a conservative news television channel, received a substantial injection of approximately $50 million from a royal figure from Qatar between 2019 and 2020. Documentation scrutinized by the newspaper and statements from representatives of Newsmax and the royal investment organization validate this revelation.
The financial backing was initiated by ex-Qatari government dignitary Sheikh Sultan bin Jassim Al Thani through Heritage Advisors, his investment fund situated in London. This investment transaction occurred at a time when Qatar was encountering a siege orchestrated by neighboring Arab nations like the United Arab Emirates and Saudi Arabia due to allegations of fostering terrorism.
Newsmax was actively pursuing investors to compete with major networks such as Fox News during the period of the funding. Some Newsmax staff members alleged that they were prompted to moderate their reporting on Qatar post the investment, an assertion that Newsmax refutes.
A representative for Newsmax emphasized that their reporting on Qatar has consistently been impartial, encompassing critical analyses. The Qatari royal subsequently reassigned his holdings to a corporate entity registered in the Cayman Islands, which retained a noteworthy minority interest in Newsmax.
Newsmax has encountered censure for disseminating false information, particularly pertaining to ex-President Donald Trump’s baseless assertions of electoral malpractice in the 2020 election. Consequently, this culminated in a defamation lawsuit instigated by Dominion Voting Systems, seeking damages exceeding a billion dollars.
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