Paramount has agreed to pay $16 million to settle its lawsuit with Donald Trump filed during the 2020 presidential campaign, according toThe Washington Post. The deal is controversial as legal experts said Paramount had a strong chance of prevailing in court and may have settled to smooth the path for its $2.4 billion Skydance merger.
Paramount said the $16 million would be allocated to Trump's future presidential library and not paid to him "directly or indirectly." In addition, it "does not include a statement of apology or regret," according to the media company.
Trump filed the lawsuit over a CBS interview with Kamala Harris that aired in October, initially demanding $10 billion and an apology. The network said it edited one of her answers for time (about Israel's prime minister Benjamin Netanhau), but Trump's attorney alleged that CBS intended to "confuse, deceive and mislead the public" by leaving out her full comments. Several legal experts called the lawsuit "frivolous and dangerous," as CBS didn't report any factual inaccuracies and the First Amendment gives media companies wide leeway in presenting information.
The Federal Communications Commission (FCC) reviewing the Skydance merger has said that its approval wasn't linked to Trump's lawsuit. However, some Paramount executives saw the complaint as an obstacle to completing the deal, according to The New York Times, and the settlement was championed by Paramount's board chair, Shari Redstone. Inside CBS's newsroom, it was seen by some employees as a low point for a network with a storied history in news and investigative reporting.
Paramount has struggled financially after investing billions into its streaming service, Paramount+, which has yet to turn a profit. Under Skydance owner and new CEO David Ellison, the company plans to rebuild its streaming technology while reducing costs and improving efficiency. That won't happen until the merger is final, though, and the delay is reportedly also holding back the development of key franchises like Star Trek.
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