Paramount Global is reportedly preparing to offer a settlement to President Donald Trump in his $20 billion lawsuit against CBS News, signaling a significant shift as mediation between the two parties officially begins.
The lawsuit centers on a 60 Minutes interview aired last October featuring then–Vice President Kamala Harris, which Trump alleges was deceptively edited to favor his political opponent during the final stretch of the 2024 election.
The logo for 60 Minutes – YouTube, CBS Evening News
According to sources cited by the Financial Times, Paramount’s board discussed financial terms for a potential settlement in a meeting held April 18th. One individual familiar with the matter stated the payout could reach into the tens of millions of dollars.
While CBS’s legal team has maintained that Trump’s defamation case is without merit, Paramount’s leadership has shown growing interest in resolving the dispute, particularly in light of its ongoing merger efforts with Skydance.
Paramount owner Shari Redstone sits for an interview – YouTube, Vox Media
At the center of this legal storm is Shari Redstone, the billionaire owner of the studio. Though she has officially recused herself from settlement negotiations, insiders say Redstone has made it known to the board that she supports moving forward with a deal.
“We can’t just be at a standstill, we have to move something forward,” she reportedly told board members.
Redstone’s concern stems not only from the lawsuit itself but from growing unease about CBS’s recent editorial tone.
Donald Trump speaks at a rally the night before being inaugurated as the 47th President of the United States of America – YouTube, Washington Post
According to a person close to Redstone, “She has been concerned for a while now about the balance of CBS News.”
Her frustrations reportedly deepened after a 60 Minutes segment covering the Israel–Hamas conflict aired in late 2023. Redstone, who is affiliated with organizations that oppose anti-Jewish discrimination, raised her concerns at a public conference last October.
Donald Trump sits down at an interview with Sean Hannity – YouTube, Fox News
Further complicating matters is Paramount’s proposed $8 billion merger with Skydance Media, a transaction that requires regulatory approval from the Federal Communications Commission. The FCC is currently chaired by Brendan Carr, who was appointed by Trump and is viewed by many as taking a hands-on approach in reviewing corporate media deals.
Although Carr has denied that the Trump CBS lawsuit and any attached settlement are influencing the FCC’s review of the Paramount-Skydance deal, executives within Paramount reportedly believe the two processes are closely connected.
Paramount owner Shari Redstone sits for an interview – YouTube, Vox Media
Redstone and her family stand to gain approximately $1 billion if the merger is approved.
The fallout from the lawsuit and Paramount’s internal recalibrations has already been felt at CBS. Last week, 60 Minutes executive producer Bill Owens resigned, citing a loss of editorial independence. In an unusually direct moment during Sunday’s broadcast, anchor Scott Pelley told viewers that Paramount had “begun to supervise our content in new ways” as the company seeks to finalize the Skydance deal.
Redstone was also reportedly rattled after Trump criticized 60 Minutes again on April 13, following segments about Ukraine and Greenland. She called CBS CEO George Cheeks to inquire about upcoming content.
Bill Owens, the former producer of 60 minutes – YouTube, CBS Evening News
“She did not ask for edits to stories, all she asked is that they are fair and balanced,” said a person familiar with the exchange. “Her thinking was: ‘We’re in the eye of the storm now. He’s posting about pieces.’”
Inside the CBS newsroom, journalists have grown increasingly uneasy. Critics have compared Redstone’s perceived interference to that of other billionaire media owners like Jeff Bezos and Patrick Soon-Shiong, both of whom have faced accusations of editorial overreach at the Washington Post and Los Angeles Times, respectively.
Outside CBS, some media analysts have warned that settling with Trump could do lasting damage to the network’s credibility. Gabriel Kahn, a former Wall Street Journal editor and now a professor at the University of Southern California, expressed concern.
Donald Trump speaks at his inauguration in 2017 – YouTube, ABC News
“In capitulating [Redstone would be] damaging the value of the asset that she’s trying to sell, by basically telling the world that one of the most storied brands in news can be silenced, manipulated, or humiliated when it’s expedient,” he said.
This would not be the first time a major network like CBS reached a settlement with Trump. In December, Disney-owned ABC News agreed to pay $15 million to Trump’s presidential library after anchor George Stephanopoulos falsely stated on-air that Trump had been found liable for a serious personal offense.
On Wednesday morning, as the mediation officially began, President Trump took to his social media platform to reaffirm his position.
“The case we have against 60 Minutes, CBS, and Paramount is a true WINNER,” he said. “They cheated and defrauded the American People at levels never seen before in the Political Arena. CBS is out of control, at levels never seen before, and they should pay a big price for this. MAKE AMERICA GREAT AGAIN!”
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