In February, Newsmax said it had completed a private preferred offering raising $225 million.
Itsettled with Smartmaticearlier this month, paying $40 million to resolve defamation claims.
I think there was a demand for more competition against Fox, Ruddy told CNBC on Monday.
NewsmaxPatrick T. Fallon/AFP via Getty Images
He founded Newsmax as a digital outlet.
4 in viewership behind Fox, CNN and MSNBC, according to Nielsen.
