Paramount Global Settles Lawsuit with President Trump for $16 Million
Paramount Global has agreed to pay $16 million as part of a settlement with President Donald Trump over his lawsuit against “60 Minutes.” Legal experts have widely criticized Trump’s lawsuit as baseless. However, Trump claims that the settlement is worth double that amount, possibly reaching $35 million when factoring in advertising. Paramount has refuted Trump’s claim, stating that the settlement does not include any provision for airing public service announcements on CBS or its other networks.
Speaking to reporters after a rally in Iowa, Trump mentioned that the settlement with Paramount and CBS involved a combination of $16 million plus additional advertising worth $16 million or more. He estimated the total value of the settlement to be around $32 to $35 million.
Paramount Global released a statement on July 2 clarifying that the settlement with President Trump does not include any commitments related to public service announcements. The terms of the settlement agreement were agreed upon by both parties and mediated by a third party.
The settlement comes at a crucial time for Paramount as they await FCC approval for their merger with Skydance Media. Reports suggest that Skydance Media CEO David Ellison has agreed to provide Trump with free advertising time on Paramount’s networks as part of a separate agreement to facilitate the merger.
According to a report by the New York Post, a side deal between Skydance’s Ellison and Trump involves CBS airing PSAs and other broadcast transmissions supporting conservative causes backed by the former president. Skydance has not commented on this alleged agreement.
Trump’s legal team celebrated the settlement as a victory against the “Fake News media” in a statement issued on July 1. They emphasized Trump’s commitment to holding the media accountable for misinformation and deceit.
Senator Elizabeth Warren has raised concerns about the legality of Paramount’s payment to Trump, calling for an investigation into potential violations of anti-bribery laws.
