- Donald Trump sued CBS for its “60 Minutes” interview with Kamala Harris days before his Election Day victory. Now, CBS' parent company Paramount is in talks to settle, according to the New York Times. If it does settle, that would make it the third mega media company to do so in a matter of months.
During her presidential run, Kamala Harris sat for an interview with “60 Minutes” that aired in October on CBS. It was not a live broadcast. Then, her rival Donald Trump sued CBS for $10 billion in damages, accusing it of deceitful editing. CBS and “60 Minutes” said the claims were false. That was before Trump won the election and returned to the White House.
Now, CBS’s parent company Paramount is reportedly in talks to settle with Trump, according to the New York Times. Discussions between their representatives are underway, three people with knowledge of the talks told the outlet.
Paramount executives reportedly think settling would keep the Trump administration from blocking or delaying its planned multibillion dollar merger with Skydance, several people with knowledge of the matter told the publication. Paramount and Skydance reached a deal to merge in the summer, but there has been some opposition. Skydance is an entertainment company run by David Ellison, son of Oracle’s billionaire cofounder Larry Ellison.
The Wall Street Journal reported earlier that executives were holding internal conversations about settling, citing people familiar with the matter. Executives at both companies reportedly think Trump's problem with CBS would make the review process for the planned merger harder, per the Wall Street Journal. To be clear, no deal has been reached and such talks don’t always result in a deal.
Paramount did not immediately respond to Fortune’s request for comment.
Still, Paramount’s controlling shareholder and chair Shari Redstone is in favor of settling, according to two people with knowledge of her thinking, per the New York Times. Paramount was founded by her father, Sumner Redstone. The merger would end the Redstone family control, but it wouldn’t come cheap. Shari would benefit from the sale of her stock.
Whatever happens, the news comes less than two months after Disney reached a settlement with Trump in his defamation case against ABC News and its anchor George Stephanopoulos. Stephanopoulos said on air that Trump had been found civilly liable for rape—but really, Trump had been found liable for sexual abuse. The company agreed to donate $15 million to Trump’s future presidential foundation and museum and an additional $1 million for his legal fees. ABC News and its star anchor would publish a statement saying it regretted the remarks made about Trump.
Separately, the Wall Street Journal recently reported that Meta agreed to pay about $25 million to settle a lawsuit from four years ago. Trump filed the suit after the company and its chief executive Mark Zuckerberg locked his social-media accounts following the Jan. 6 riot; $22 million from the settlement would reportedly go toward Trump’s presidential library and the rest to legal fees, but Meta wouldn’t admit wrongdoing.
