Following staff resignations and criticism from lawmakers, Paramount Global, the parent company of CBS News, has reached a settlement with President Donald Trump regarding his $20 billion lawsuit related to a “60 Minutes” episode.
Paramount agreed to pay Trump $16 million, a move that has raised concerns about press freedom, as it may enable the president to retaliate against media outlets that do not offer favorable coverage. The settlement also resolves the dispute ahead of Paramount’s planned merger with Skydance Media, which requires approval from the Trump administration.
Senator Ron Wyden (D-Ore.) expressed his disapproval on Bluesky, stating, “Paramount just paid Trump a bribe for merger approval. When Democrats regain power, I will demand federal charges. In the meantime, state prosecutors should hold the corporate executives accountable for undermining our democracy.”
Brendan Carr, the Trump-appointed chairman of the Federal Communications Commission, has insisted that the FCC’s review of the merger is not influenced by Trump’s lawsuit. Carr faced criticism from former FCC commissioners after reopening a case related to “60 Minutes.”
The settlement funds will be directed towards a future presidential library and will not be paid directly to Trump or Rep. Ronny Jackson (R-Texas), the plaintiffs in the case, according to Paramount.
As part of the agreement, Paramount stated that “60 Minutes” will release interview transcripts with U.S. presidential candidates post-broadcast. The settlement does not include an apology, a point of contention for Trump.
A group of Democratic senators, including Wyden, expressed their concerns in May, warning that rewarding Trump with millions of dollars for the lawsuit could embolden him to target media outlets critical of him.
Shari Redstone, the chair of Paramount Global, played a key role in the settlement. Senators Wyden, Elizabeth Warren, and Bernie Sanders previously raised concerns about potential improper conduct involving the Trump Administration in relation to the merger with Skydance Media.
Redstone’s spokesperson stated that she recused herself from the settlement talks, but reports indicated that she instructed “60 Minutes” producers to withhold critical stories about Trump until after the merger.
Reports suggested that Paramount initially offered Trump $15 million to settle the lawsuit, but he demanded more than $25 million and an apology from CBS News for a “60 Minutes” episode featuring then-Vice President Kamala Harris.
A mediator later proposed a $20 million settlement, with a significant portion allocated to Trump’s presidential foundation.
Trump alleged that the interview with Harris was edited deceptively to favor her candidacy, while CBS refuted these claims by releasing the full transcript of the interview.
Despite the settlement, Trump continues to criticize “60 Minutes” and CBS News, vowing that they will have to “pay a big price” for their coverage of him.
Amidst settlement discussions, two top CBS News employees resigned, citing disagreements with the company’s direction.
Both former employees were invited to testify at a California state Senate hearing investigating potential legal violations by Paramount in settling with Trump.
Senator Sanders emphasized on CBS’s “The Late Show With Stephen Colbert” that Paramount should not yield to Trump’s demands.
Senator Sanders highlighted Trump’s authoritarian tendencies, noting his actions against various institutions and individuals he disagrees with.
