President Donald Trump has shut down a $15 million offer from Paramount Global to settle his $20 billion lawsuit against CBS News, according to the Wall Street Journal.
The lawsuit stems from CBS’ “60 Minutes” interview with Kamala Harris last fall, which the president claims was deceitfully edited. Trump is asking for $25 million to settle and an apology from the news network, WSJ reports.
The two parties have reportedly discussed a tentative mediation session for Thursday.
Paramount shares were trading flat in after-hours trading after the Wall Street Journal report.
The lawsuit and Paramount’s handling of it led to a mass exodus of top members at “60 Minutes” and CBS. Executive producer Bill Owens resigned from his “60 Minutes” role in April. He said in a memo to the staff that he lost the ability to make independent decisions.
“My ’60 Minutes’ priorities have always been clear. Maybe not smart, but clear. Over the past months, it has also become clear that I would not be allowed to run the show as I have always run it,” Owens wrote in a memo to staff.
“To make independent decisions based on what was right for ’60 Minutes,’ right for the audience. So, having defended this show- and what we stand for – from every angle, over time with everything I could, I am stepping aside so the show can move forward. The show is too important to the country, it has to continue, just not with me as the Executive Producer.”
Wendy McMahon, a longtime defender of “60 Minutes,” also stepped down as president of CBS News and Stations among the tumult caused by the lawsuit. She said in a memo “it’s become clear the company and I do not agree on the path forward,” according to the New York Times.
Months into Trump’s term in office, the FCC opened investigations into the news practices at CBS News. The FCC also has to approve Paramount Global’s merger with Skydance – which is valued at $8 billion. Back in January, CBS handed over an unedited transcript and footage from the “60 Minutes” interview with Harris in compliance with the FCC.
Paramount declined TheWrap’s request for comment.
