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Nextstar settles defamation suit by Truth Social, retracts story on Trump firm’s financials

Other news media outlets cited as defendants include The Guardian, The Hollywood Reporter, the Miami Herald, Reuters, Rolling Stone, Deadline Hollywood and CNBC.

Published: December 5, 2023 1:32pm

Updated: December 5, 2023 8:46pm

Trump Media & Technology Group Corp., which operates Truth Social, has dismissed its defamation claim against Nexstar Media Group and its subsidiaries after the news media company retracted a story about the social media site’s finances, according to court documents and a statement from the company.

The Trump-owned firm filed a defamation and “injurious falsehoods” suit Nov. 20 against 20 media outlets alleging that days earlier they “falsely” reported Truth Social had lost $73 million.

The agreement between Trump Media and Nexstar was signed Monday in the Twelfth Judicial Circuit Court in Florida. 

Among the subsidiaries are Capitol Hill Publishing Corp., which produces content under the brand “The Hill.”

The outlets cited in the lawsuit include The Guardian, The Hollywood Reporter, the Miami Herald and its executive director Alex Mena, Reuters, Rolling Stone, The Hill, Deadline Hollywood, Benzinga, Axios, the Daily Beast, Salon, New York Daily News, Newsweek, MSNBC, Mediaite Daily and CNBC.

Trump media sought $1.5 billion in damages in the original suit, according to Bloomberg.

Trump Media said in a statement related to the deal that legal action will still continue with the remaining defendant. It said it and Nexstar, which has retracted the story, have agreed to resolve their dispute outside of court.

“TMTG and Nexstar have agreed to resolve their dispute outside of court, to both parties’ mutual satisfaction,” the sides said in a mutually agreed upon statement.

“The Hill has retracted the article, and the lawsuit will be dismissed as to Nexstar,” TMTG added.

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