Paramount told various outlets that the $16 million settlement would be paid to Trump’s future presidential library and would not include any “statement of apology or regret.”

As part of the settlement, Paramount has agreed that 60 Minutes will release transcripts of all interviews it conducts with Presidential candidates in the future.

CBS’ lawyers had previously argued that Trump’s case, claiming $20 billion in damages, was “completely without merit,” however, Paramount’s Chair Shari Redstone was reportedly keen to settle the case as the company needed federal approval to complete its multibillion-dollar merger with Skydance Media.

Trump has not yet commented on the settlement, but his legal team told the New York Times that this was another example of the president holding “the fake news media accountable.”