Movies

Paramount inches toward settling Trump’s $20-billion ’60 Minutes’ lawsuit

BBG News

This week, as Paramount Global (formerly CBS owner) heads into mediation for President Trump’s $20-billion “60 Minutes” lawsuit, an important query arises: What amount should the company consider to resolve this dispute, which some First Amendment experts have labeled as baseless?

During a meeting held on April 18, Paramount’s board has reportedly reached an agreement on the terms for a potential settlement with Trump, as per two individuals with knowledge of the negotiations who preferred to remain anonymous.

The mediation process starts on Wednesday as reported by several reliable sources, and the company is keen to resolve the “60 Minutes” dispute swiftly, allowing them to proceed with the proposed sale to David Ellison’s Skydance Media without delay.

The New York Times first reported Paramount’s board directors had agreed on settlement terms.

Experts advised that the board took steps to ensure lawyers, representing them in mediation, would have straightforward instructions. However, a spokesperson for Paramount chose not to make any comments on the matter.

Last October, Trump initiated a lawsuit in Texas, claiming that CBS manipulated an interview on “60 Minutes” featuring Vice President Kamala Harris at the time, with the intention of boosting her chances during the election through misleading editing.

At the start of this year, the president increased the requested compensation to a total of $20 billion. The revised lawsuit aimed to shift the focus from First Amendment concerns and instead argue that “60 Minutes” was a deceptive broadcast that caused harm to viewers in Texas.

Shari Redstone, major stakeholder at Paramount, is advocating for a deal to make it easier for Paramount to be sold to the Ellison family, who are billionaire tech tycoons led by Larry Ellison. However, Redstone’s perceived accommodation of Trump has ignited strong objections within the company.

Last week, Bill Owens, the executive producer of “60 Minutes,” stepped down due to increased corporate demands regarding their reporting.

On Sunday, longtime CBS newsman Scott Pelley shared with “60 Minutes” viewers that Leslie Owens had resigned. Pelley revealed that the show had been under growing corporate scrutiny due to Paramount’s efforts to secure the Trump administration’s approval for the Skydance deal.

The Ellison family’s acquisition of CBS television station licenses requires approval from the Federal Communications Commission.

At the conclusion of the program, Pelley assured the audience that none of their stories were censored. However, he expressed a sense of loss in terms of independence, as he believed that genuine journalism demands such freedom.

Hollywood Inc.

As I wrapped up my movie marathon on Sunday evening, I couldn’t help but acknowledge the departure of our beloved executive producer, a fact that Scott Pelley subtly hinted at during his closing remarks. He suggested that this change was influenced by some formidable pressures from the corporate world.

According to the sources, Redstone, who holds the position of chairwoman at Paramount, chose not to participate in conversations about the settlement. This is because she has abstained from voting on specific Paramount issues concerning the company’s sale, as there was a potential conflict of interest involved. It’s worth noting that her family stands to receive approximately $1.75 billion as their share of the earnings from the Skydance sale.

Paramount, however, could face legal blowback if it shells out a huge amount to mollify Trump.

Paramount’s legal team has countered Trump’s claims, while CBS reporters stand firm that they didn’t manipulate Kamala Harris’s interview. In the original footage, it appears that Harris’s words were accurately represented, even though CBS trimmed her response by selecting the most relevant part.

CBS has said the edits were made to pare the then-vice president’s interview to a broadcast length.

It has been reported by informed sources that board members are aware that a large settlement might appear like a form of compensation to the president in order to finalize the Skydance merger.

Hollywood Inc.

The esteemed CBS news magazine finds itself in a unique predicament, caught between a potential lawsuit from Donald Trump and the upcoming sale of its parent company, Paramount Global.

Amid the controversy, Trump’s dismay with CBS and “60 Minutes” has continued.

In response to two news stories aired in April, one about the war in Ukraine and another concerning Trump’s intention to annex Greenland, Trump expressed his anger. More recently, Trump posted a message on his Truth Social platform, urging Brendan Carr, his appointed head of the FCC, to impose the strictest fines and penalties possible on CBS.

Due to two news items aired in April, one focusing on the conflict in Ukraine and another regarding Trump’s plans for Greenland annexation, Trump felt enraged. In a recent post on Truth Social, he asked Brendan Carr, his FCC appointee, to levy the toughest fines and penalties against CBS.

In the past week, following a prolonged interval, the FCC initiated contact with Skydance to kick off the procedure for reviewing their proposed merger.

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2025-04-30 04:31

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