Paramount settles Trump lawsuit over Kamala Harris' Interview

NEW YORK: CBS parent company Paramount late on Tuesday agreed to settle a lawsuit filed by US President Donald Trump over an interview with former Vice President Kamala Harris that the network broadcast in October, the latest concession by a media company to the president. Paramount said it would pay $16 million to settle the suit with the money allocated to Trump's future presidential library.

"The settlement does not include a statement of apology or regret," the company statement added. Shares of Paramount fell 1.2% on Wednesday Trump filed a $10-billion lawsuit against CBS in October, alleging the network deceptively edited an interview that aired on its "60 Minutes" news program with Harris in an effort to "tip the scales in favour of the Democratic Party" in the election. Harris became the Democratic candidate after former President Joe Biden dropped out of the race.

In an amended complaint filed in February, Trump bumped his claim for damages to $20 billion.

The settlement comes as Paramount needs approval from the US Federal Communications Commission for its $8.4-billion merger with Skydance Media. FCC Commissioner Anna Gomez, a Democrat, said the settlement over an entirely "meritless" lawsuit was a "desperate" move by Paramount.