Paramount Global Reportedly Offers $15M To Settle Trump Lawsuit

Paramount Global has reportedly offered President Donald Trump $15 million to settle a lawsuit against its subsidiary, CBS News, but the President’s team is not budging on its demands.

According to a report by The Wall Street Journal, President Trump’s team wants more than $25 million and an apology from CBS News.

The lawsuit concerns an interview of former Vice President Kamala Harris in the run-up to the elections on CBS News’ ‘60 Minutes’–President Trump’s team says that the interview was deceitfully edited to make her seem better.

Trump’s team sued CBS News for $10 billion in October, while CBS News denies that the interview was doctored or deceitful. The President’s team bumped the damages it was seeking to $20 billion in an amended lawsuit filed in February.

Trump’s team also threatened to file another lawsuit against CBS News, alleging bias in its news coverage.

The report added that Paramount expects to nominate three new directors to its board, while one existing director intends to step down. The media giant wants to have a full board in place in case its planned merger with Skydance falls through.

This case has also angered some of CBS News’ top executives, including CEO Wendy McMahon, who announced earlier this month that she’s leaving the network.

The report noted that there was ongoing tension between McMahon and Paramount over a potential apology to President Trump.

Paramount Global stock is up nearly 15% year-to-date and 2.78% over the past 12 months.

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