Paramount has agreed to pay $16 million to settle a lawsuit in which President Donald Trump alleged that an interview with Kamala Harris, his Democratic opponent for the presidency, that aired on CBS’ “60 Minutes” last year was deceptively edited.
The agreement in principle, proposed by a mediator, includes plaintiffs’ fees and costs and — except for fees and costs — will be allocated to Trump’s future presidential library, Paramount Global said in a statement late Tuesday. Paramount is the parent company of CBS.
The lawsuit, which was filed in the Northern District of Texas, sought $20 billion in damages.
“The settlement will include a release of all claims regarding any CBS reporting through the date of the settlement, including the Texas action and the threatened defamation action,” the statement read.
A spokesperson for Trump’s legal team said in a statement that with the settlement, Trump “delivers another win for the American people as he, once again, holds the Fake News media accountable for their wrongdoing and deceit. CBS and Paramount Global realized the strength of this historic case and had no choice but to settle.”
Trump added his former doctor, Rep. Ronny Jackson, R-Texas, as a plaintiff to the suit in February, the Los Angeles Times reported. Under the settlement, Paramount said in its statement, neither Trump nor Jackson would personally receive direct or indirect payment.
Paramount also said it agreed that in the future, “60 Minutes” will release transcripts of interviews with eligible U.S. presidential candidates after the interviews have aired, “subject to redactions as required for legal or national security concerns.”
“The settlement does not include a statement of apology or regret,” the company said.
CBS News did not immediately respond to a request for comment. During Paramount’s annual shareholders meeting later Wednesday, George Cheeks — CEO of CBS and co-CEO of Paramount — defended the decision to settle.
Cheeks cited the “somewhat unpredictable cost of legal defense,” the financial and reputational consequences of an adverse judgment and the potential business disruptions of a prolonged legal fight as reasons for settling.
“Settlement offers a negotiated resolution that allows companies to focus on their core objectives, rather than being mired in uncertainty and distraction,” he said, according to a recording of the meeting.
Paramount is seeking to complete an $8 billion merger with the media production group Skydance Media. The merger requires federal approval.
On Wednesday, Sen. Elizabeth Warren, D-Mass., reposted a Los Angeles Times post on X about the settlement, characterizing it as “bribery.”
“Paramount folded at the same time it needs Trump’s approval for a billion-dollar merger,” she wrote, calling for an investigation.
Paramount on Tuesday cited a previous statement about the merger. “This lawsuit is completely separate from and unrelated to the Skydance transaction and the FCC approval process,” it said. “We will abide by the legal process to defend our case.”
The merger’s required approval from the Trump administration has led to tensions at CBS News that have spilled out into the open.
In May, Wendy McMahon resigned as head of CBS News, saying in a memo that “the company and I do not agree on the path forward.” The resignation followed the departure in April of Bill Owens, a top producer at “60 minutes.” In a memo to staff, Owens said his journalistic independence had been hamstrung over the previous months.
In a statement, FCC Commissioner Anna Gomez decried the settlement, characterizing it as a way for Paramount to curry favor with the Trump administration.
“Despite repeated attempts to deny the obvious, this Paramount Payout is a desperate move to appease the Administration and secure regulatory approval of a major transaction currently pending before the FCC,” she said.
Gomez called on the Federal Communications Commission to bring the Paramount-Skydance merger to a full vote.
Rudy Chinchilla is a breaking news editor for NBC News Digital.
