It appears that Paramount Global might be planning to make an agreement to resolve a $20 billion lawsuit filed by former President Donald Trump against CBS News. This possible settlement indicates a major change, as formal mediation proceedings between the parties are now underway.
The legal dispute revolves around an interview on 60 Minutes broadcasted in October, which involved then-Vice President Kamala Harris. Trump claims that the interview was manipulated editorially to boost his political rival’s chances during the closing stages of the 2024 election.
Based on reports from the Financial Times, it’s been indicated that Paramount’s board deliberated over financial aspects of a possible settlement during their meeting on the 18th of April. A person knowledgeable about the situation hinted that the payout could potentially exceed tens of millions of dollars.
Despite CBS’s lawyers arguing that Trump’s defamation suit lacks substance, Paramount’s management has been increasingly eager to settle the disagreement. This eagerness is especially notable given their current endeavors to merge with Skydance.
At the heart of this legal turbulence stands Shari Redstone, the wealthy proprietor of the studio. Despite her formal withdrawal from talks regarding settlements, confidants suggest that Redstone has conveyed her backing for pursuing a deal to the board in private communications.
She apparently expressed that it’s not enough to stay idle; we need to make progress on something.
Redstone’s worry isn’t just about the ongoing lawsuit, but also arises from his increasing discomfort over CBS’s recently adopted editorial stance.
A source near Redstone mentioned that she’s had some worries recently regarding the equilibrium of CBS News.
Deepening further, it seems, were her frustrations following the airing of a 60 Minutes broadcast on the Israel-Hamas conflict in late 2023. Redstone, associated with groups that combat anti-Semitism, vocalized her worries at a public gathering back in October.
Adding to the complexity is Paramount’s proposed $8 billion merger with Skydance Media, a deal that necessitates approval from the Federal Communications Commission (FCC). At present, the FCC is headed by Brendan Carr, who was appointed by Trump and is often seen as actively involved in scrutinizing corporate media mergers.
Despite Carr’s assertion that the Trump CBS lawsuit and the related settlement aren’t impacting the FCC’s examination of the Paramount-Skydance deal, there are reports suggesting that Paramount executives think these two proceedings might be linked.
Redstone and her family stand to gain approximately $1 billion if the merger is approved.
The aftermath of the lawsuit and adjustments within Paramount have already impacted CBS significantly. Last week, Bill Owens, executive producer of 60 Minutes, stepped down due to perceived loss of editorial autonomy. In an unexpectedly frank instance during Sunday’s broadcast, anchor Scott Pelley informed viewers that Paramount has started to oversee our content more closely as they work towards finalizing the Skydance deal.
According to reports, Redstone was additionally troubled when Trump spoke out against CBS once more on April 13, after broadcasts about Ukraine and Greenland on 60 Minutes. She reached out to CBS’s CEO, George Cheeks, to ask about any future programming.
The individual involved in the conversation stated that she didn’t request specific changes to stories, but rather insisted on them being impartial and even-handed instead. It seems her perspective was: ‘Given the current situation, he’s sharing his perspectives through articles.’
Within the CBS newsroom, journalists are becoming progressively concerned. Critics draw parallels between Redstone’s perceived meddling and that of other wealthy media proprietors such as Jeff Bezos and Patrick Soon-Shiong. Both have been accused of editorial overreach at the Washington Post and Los Angeles Times, respectively.
Beyond CBS, certain media experts have voiced apprehension that negotiating with Trump might tarnish the network’s long-term reputation for credibility. Gabriel Kahn, who previously edited at the Wall Street Journal and is now a professor at the University of Southern California, has expressed his worry on this matter.
If Redstone surrenders, she could potentially devalue the property she’s attempting to market, as her action implies that a well-known news brand can be suppressed, controlled, or disgraced whenever necessary,” he expressed.
It’s not unheard of that a prominent network like CBS could negotiate a settlement with Trump, much like ABC News did in December when they agreed to pay $15 million to Trump’s presidential library following an incorrect on-air statement by anchor George Stephanopoulos claiming Trump had been found responsible for a serious personal offense without proper legal backing.
On Wednesday morn, when the formal mediation started, President Trump expressed his stance again on his preferred social networking site.
As a movie enthusiast, I proudly assert that our case against 60 Minutes, CBS, and Paramount is nothing short of a triumph. They’ve pulled off a deceitful manipulation of the truth on an unprecedented scale in the political sphere. The actions of CBS are beyond reproach, reaching heights never seen before, and they ought to face severe consequences for this underhanded behavior. It’s high time America restores its greatness!
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2025-05-01 03:59