Report: Trump demands more money in Paramount lawsuit

The parent company of CBS News has balked at settling a lawsuit with Donald Trump for $35 million, leading the president to demand even more money, a bombshell report claims. CBS News parent Paramount was hesitant to settle the $20 billion suit - which claimed that a 2024 interview with Kamala Harris on 60 Minutes was deceptively edited - over fears of facing legal backlash for bowing to the president , the New York Post reported .
Trump's legal team reportedly rejected a $15 million offer to settle the suit in May. The holdup threatens to upend Paramount heiress Shari Redstone's plans to sell the company. The deal could be voided come October if still not inked by that point. Trump's team 'appeared to be willing to settle for less, but even that amount worries the Paramount people,' one source told the Post.
Trump's team continues to deny that his administration's approval of the Skydance deal is not contingent on settling the suit, while Paramount staffers say the deal has yet to be closed because of the ongoing litigation. An insider close to Trump's team told the Post the two sides were not close on a settlement. 'We have a strong case,' the source said.
Redstone, 71, has recused herself from the talks, since she could personally benefit. If the deal goes through, she stands to make more than $1 billion as Paramount's primary shareholder, after reportedly offering to pay as much as $50 million to make the suit go away. Paramount - once a preeminent presence in Hollywood and broadcast TV - was worth close to $40 billion just few years ago.
A federal judge overseeing the case is expected to grant discovery in the coming weeks if there is no settlement, the Post reported. Former CBS CEO Wendy McMahon and longtime 60 Minutes boss Bill Owens have both left their respective roles in protest of Paramount's willingness to settle. Stipulations set by the president require CBS to also issue a formal apology.
Skydance - run by David Ellison, the son of Trump ally Larry Ellison - has named former NBCU chief Jeff Shell as the prospective boss of CBS News if and when the deal goes through. Shell is likely to downsize and address the alleged political biases in the network's news programming since it operates on public airwaves, the Post reported. The Daily Mail has contacted Paramount for comment.

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