via Wikimedia Commons)
Paramount Global says it will pay $16 million to settle a news distortion lawsuit brought by President Donald Trump last year.
On Thursday, Paramount said the money it will pay to end the lawsuit will go toward the completion of a presidential library or museum, echoing similar settlements reached between Trump and news broadcasters over the past year.
None of the money will go to Trump directly, and Paramount will not have to apologize or otherwise admit wrongdoing, the company said.
Last year, Trump sued Paramount on allegations of news distortion and defamation, claiming the media giant deceptively edited a “60 Minutes” broadcast to curry favor with then-Vice President Kamala Harris, who was Trump’s political opponent.
Hours before the broadcast aired, a longer version of a 60 Minutes clip aired on the CBS political affairs program “Face the Nation,” which is how Trump and the rest of the public learned about the difference in editing between the two programs.
The lawsuit resulted in a prolonged delay of Paramount’s merger with Skydance Media, which involves the transfer of broadcast licenses held by some CBS-owned local TV stations. The Federal Communications Commission (FCC) is required to approve the license transfers, and the agency has refused to act on the matter until the lawsuit was resolved.
Paramount initially vowed to fight the case, and legal experts said Trump stood to lose. But, with a key deadline looming for the Skydance merger, Paramount shifted its strategy in recent weeks, opting instead to pursue a path toward a settlement.
The $16 million Paramount will pay is a substantially lower amount than the $20 billion Trump was seeking in alleged damages.
Paramount faces the potential of a shareholder lawsuit after a handful of activist groups vowed to sue the company if it settled the case with Trump.
In addition to the payout, Paramount has agreed to modify its editorial standards and practices to include a requirement that full transcripts of interviews with presidential candidates be released publicly after the segments are aired in the future, Fox News Digital reported late Tuesday evening.
“With this record settlement, President Donald J. Trump delivers another win for the American people as he, once again, holds the Fake News media accountable for their wrongdoing and deceit,” a spokesperson for Trump said in a statement. “CBS and Paramount Global realized the strength of this historic case and had no choice but to settle. President Trump will always ensure that no one gets away with lying to the American People as he continues on his singular mission to Make America Great Again.”
While Trump considers the settlement to be a victory in his favor, Paramount said the agreement ends any current or future claims regarding its journalistic products through the date of the settlement.
“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,” a Paramount spokesperson said.
