Paramount has agreed to pay $16 million to settle a lawsuit filed by U.S. President Donald Trump over a 2023 “60 Minutes” interview with then–Vice President Kamala Harris.
The settlement, announced late Tuesday, will allocate the funds to Trump’s future presidential library. Paramount said the agreement includes no apology or admission of wrongdoing.
Trump had sued CBS in October, alleging that the network edited the interview to favor Democrats ahead of the 2024 election. Harris became the Democratic nominee after former President Joe Biden exited the race.
Trump later increased his damages claim to $20 billion in an amended filing.
Paramount Co-CEO George Cheeks told shareholders on Wednesday that the company chose to settle to avoid unpredictable legal costs, reputational risk, and disruption caused by a drawn-out case. The matter entered mediation in April.
The company also said it will release full transcripts of future “60 Minutes” interviews with U.S. presidential candidates after they air, with redactions made only for legal or national security reasons.
The lawsuit claimed CBS’s editing violated the Texas Deceptive Trade Practices-Consumer Protection Act. Media groups warned that Trump’s use of this law may signal new legal tactics to challenge press protections.
Trump’s legal team welcomed the settlement and called it a win for the American people. Meanwhile, Paramount’s shares fell 1.2% on Wednesday.
The case has drawn strong criticism from some lawmakers. Senator Ron Wyden called the settlement a bribe and urged legal action. Senator Elizabeth Warren said she plans to propose restrictions on donations to presidential libraries, and Senator Bernie Sanders said the move could embolden more attacks on the media.
The Federal Communications Commission is currently reviewing Paramount’s planned $8.4 billion merger with Skydance Media. Commissioner Anna Gomez criticized the settlement, calling it a dangerous precedent that could affect the outcome of the merger process.
Trump has filed several lawsuits against media outlets. Earlier settlements included $15 million from ABC News and $25 million from Meta Platforms. Trump has also sued the Des Moines Register over polling data, a case he recently refiled in Iowa state court.
