President Donald Trump is reportedly holding out on a $15 million settlement offer from Paramount Global, demanding more money and an apology.
Paramount and Trump have been locked in negotiations for a month over a lawsuit the president filed last year against CBS News, which is overseen by Paramount. The media company has offered $15 million to settle the case, but Trump’s team rejected the offer, wanting at least $25 million and an apology for interfering in the 2020 election, according to The Wall Street Journal.
Trump sued CBS News in November over an interview the network conducted with former Vice President Kamala Harris during an episode of “60 Minutes.” The lawsuit accused the news company of deceptively editing the interview to make Harris appear much sharper than she actually performed. The network has said the interview was “not doctored or deceitful.”
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The court-wrangling with the president comes as Paramount Global tries to navigate a planned merger with Skydance Media. The high-profile battle with Trump has complicated company dynamics amid the merger.
Earlier this month, CBS News CEO Wendy McMahon announced that she was leaving the network after breaking with executives over how to handle the Trump lawsuit. McMahon left in part because of her unwillingness to make an apology as part of a potential settlement.
“It’s become clear that the company and I do not agree on the path forward,” McMahon wrote in a memo to staff. “It’s time for me to move on and for this organization to move forward with new leadership.”
Shari Redstone, Paramount Global’s controlling shareholder and chair, has stepped back from the Trump lawsuit as she navigates the $8 billion merger with Skydance, which must undergo a federal review by the Trump administration.
Paramount Global is the latest major company attempting to settle a lawsuit from Trump. Meta agreed to pay $25 million to settle a lawsuit over Trump’s social media accounts being banned following January 6, 2021. $22 million of the settlement is directed toward the Trump presidential library while the rest of the money covered legal expenses.
The social media platform X agreed to a similar settlement worth $10 million the following month.