Company Reports Revenues of $45.3 million, a 4.0% Year-Over-Year Increase, Outpacing Election-Year Comparison Broadcast Revenues Increase to $36.6 Million, a 10.1% Increase Year-Over-Year Newsmax Remains the Fourth Highest-Rated Cable News Channel With Over 28 Million Quarterly Viewers BOCA RATON, FL / ACCESS Newswire / November 13, 2025 / Newsmax Inc. (NYSE:NMAX) ("Newsmax" or the "Company") today announced its financial results for the third quarter ended September 30, 2025. Management Commentary "We are ...

A federal judge in Florida dismissed cable news channel Newsmax’s antitrust lawsuit against rival Fox News Friday, but kept the door open for Newsmax to refile its complaint https://t.co/KSw8OglhCG ...

Conservative cable-news channel Newsmax filed an antitrust lawsuit against larger rival Fox News in a federal court in Florida https://t.co/W3b3PpvZfQ ...

Core Viewpoint - Newsmax has filed an antitrust lawsuit against Fox Corp., alleging that it holds an illegal monopoly in the right-leaning pay TV news market, engaging in exclusionary practices to maintain its dominance [1][9]. Group 1: Allegations Against Fox Corp. - Newsmax claims that Fox's anticompetitive behavior has hindered its growth and distribution potential, asserting that it could have become a more valuable media company without such interference [2]. - The lawsuit alleges that Fox pressures distributors into unfair agreements that prevent them from carrying competitors like Newsmax, imposing financial penalties for doing so [3][10]. - Newsmax cites internal communications from Fox leaders, revealed during a separate defamation lawsuit, indicating that Fox views Newsmax as a significant competitive threat [4][5]. Group 2: Impact on Competition - The lawsuit argues that Fox's actions have harmed competition, restricted consumer choice, and led to higher prices for consumers in the right-leaning news market [9]. - Newsmax contends that most distributors comply with Fox's restrictions due to a lack of alternatives, effectively coercing them into excluding Newsmax from their offerings [10]. - The complaint states that Fox sometimes refuses to license its popular channels unless distributors agree to disadvantage rival networks like Newsmax [11]. Group 3: Legal Proceedings - Newsmax is seeking a jury trial and unspecified monetary damages, aiming for a court declaration that Fox has violated federal and state antitrust laws [11].

Core Viewpoint - Newsmax has filed a lawsuit against Fox News, alleging that Fox has engaged in anticompetitive behavior to maintain its monopoly in the right-leaning pay TV news market, thereby harming competitors like Newsmax [2][4][5]. Group 1: Allegations Against Fox News - Newsmax claims that Fox News has used various strategies to coerce distributors into not carrying or marginalizing other right-leaning news channels [4]. - The lawsuit alleges that Fox makes access to its content conditional on distributors agreeing not to carry competing channels, either explicitly or tacitly [4][5]. - Financial penalties are imposed by Fox on distributors who carry competing channels, requiring them to pay high fees for less popular Fox channels [5]. Group 2: Legal Actions and Demands - Newsmax seeks a permanent injunction to prevent Fox from enforcing its allegedly exclusionary agreements [6]. - The company is also pursuing damages amounting to three times the losses it claims to have suffered due to Fox's actions, along with pre- and post-judgment interest at the highest legal rate [6].

Exclusive: Cable news network MSNBC will adopt the new name MS NOW ahead of its spinoff from NBCUniversal https://t.co/Dh3r4nOE4g ...

Core Viewpoint - Newsmax's stock has significantly declined from its initial surge post-IPO, raising questions about its investment potential in a challenging digital media landscape [1][2]. Company Overview - Newsmax is a conservative media network that gained attention during a quiet year for IPOs, initially seeing its stock price rise to $265 per share shortly after its IPO [1]. - The stock has since fallen to just above $12 per share, nearing its all-time low [2]. Financial Performance - In Q1, Newsmax reported revenue growth of 11.6%, reaching $45.3 million, indicating it is still a small player in the industry despite being the fourth-highest-rated cable news channel with over 33 million quarterly viewers [5][6]. - The growth in revenue was balanced across advertising, affiliate revenues, and subscriptions, with advertising accounting for nearly two-thirds of total revenue [5]. - The company achieved a record of 33.6 million viewers in the quarter, a 50% increase from the previous year, although this may be attributed to external factors such as Trump's inauguration [6]. - Newsmax reported an adjusted EBITDA loss of $1.2 million, down from a profit of $3.2 million a year ago, and a GAAP loss of $17.2 million, or $0.49 per share [7]. Market Position and Valuation - Newsmax's stock is currently trading at a price-to-sales ratio of 9, which is considered high compared to its peers like Fox Corporation, which has a P/E ratio of 14 and a P/S ratio of 1.6, and Sinclair, trading at a P/E of 7 and a P/S of 0.3 [9][10]. - The company is exploring growth opportunities in both linear and digital channels, including streaming and a small product business [8]. Investment Outlook - Despite double-digit revenue growth, Newsmax is still unprofitable and its stock is more expensive than its peers, leading to a cautious investment outlook [11]. - Currently, Newsmax is not considered a buy, with the potential for a change in status if its financial performance improves or its valuation decreases [12].