Negotiations between Paramount Global and former President Donald Trump to settle a $20 billion defamation lawsuit tied to CBS News’ 60 Minutes have reportedly stalled as political pressure builds and federal scrutiny of the company’s pending merger with Skydance Media intensifies.
Sources close to the discussions told the Wall Street Journal that Paramount has offered $15 million to resolve the case, while Trump’s legal team is demanding at least $25 million along with a formal apology from CBS News. The former president alleges the network manipulated a 2024 interview with then-presidential candidate Kamala Harris to make her appear more favorable. CBS has denied the claim, stating the broadcast was “not doctored or deceitful.”
The lawsuit has emerged as a major point of tension within Paramount, coinciding with the resignation of CBS News CEO Wendy McMahon, who reportedly opposed issuing an apology to Trump. Meanwhile, Paramount is preparing to nominate three new board members as it attempts to finalize its $8 billion merger with Skydance, pending regulatory review by the Federal Communications Commission.
Within Paramount, some executives are alleged to believe that settling within the same range as recent Trump-related litigation could help limit exposure to shareholder lawsuits or allegations of improper conduct. In recent months, Trump reached a $15 million settlement with Disney over a defamation claim involving ABC News and George Stephanopoulos. Meta and X have also settled Trump lawsuits, paying $25 million and $10 million, respectively.
The legal battle has also attracted the attention of Capitol Hill Democrats. In a letter sent to Paramount Board Chair Shari Redstone on May 20, Senators Ron Wyden, Elizabeth Warren, and Bernie Sanders raised concerns that Paramount “may be engaging in potentially illegal conduct” in an attempt to curry favor with the Trump administration. The lawmakers questioned whether the company’s reported efforts to settle the lawsuit amounted to a quid pro quo in exchange for merger approval.
The senators specifically cited a 60 Minutes broadcast in which a correspondent reportedly told viewers, “Our parent company Paramount is trying to complete a merger. The Trump Administration must approve it. Paramount began to supervise our content in new ways.” In their letter, the senators wrote, “Paramount appears to be attempting to appease the Administration in order to secure merger approval,” and warned that if the company were offering editorial concessions in exchange for favorable regulatory treatment, it could be in violation of federal anti-bribery statutes.
