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UPI
13 hours ago
- Business
- UPI
Paramount stalls $35 million '60 Minutes' settlement, slowing merger
June 19 (UPI) -- Paramount has pulled back on a $35 million settlement with President Donald Trump after he sued the media company over a segment on CBS' News' "60 Minutes." The lawsuit alleges that the program edited an interview with Democratic presidential nominee Kamala Harris ahead of the 2024 election to change how she would appear to viewers. The stalled settlement is holding up a potential $8 billion takeover of Paramount by Skydance, a deal that the two companies negotiated over a year ago. Despite the legal wrangling, Trump has said he is encouraged by the proposed merger in its current form, and endorsed the deal proposed by Skydance's David Ellison. "Ellison is great," Trump told reporters on the White House lawn Wednesday. He'll do a great job with it." Trump seemed to have connected the delay in the deal to his Paramount lawsuit. The internal debate over the Trump lawsuit and the way it was being handled prompted CBS News President Wendy McMahon to resign in May, saying in a memo that she and the company could not agree on a path forward. The Paramount-Skydance deal has been pending review by the Federal Communications Commission since last fall.
Miami Herald
2 days ago
- Business
- Miami Herald
Trump endorses Paramount merger with David Ellison's Skydance
President Trump has endorsed David Ellison's takeover of Paramount Global - an $8-billion merger that has been complicated by his $20-billion lawsuit over CBS' "60 Minutes." On Wednesday, Trump was asked about the hold-up in the federal review of Skydance's takeover of the storied entertainment company. The question came as reporters clustered around the president on the White House lawn to watch the installation of a flagpole. The Paramount-Skydance deal has been pending at the Federal Communications Commission since late last fall. Trump said he hoped the deal goes through. "Ellison is great. He'll do a great job with it," Trump said. Then he appeared to connect the merger-review delay to his lawsuit against CBS and its parent Paramount over last fall's "60 Minutes" interview with then-Vice President Kamala Harris. Trump has maintained since last October that the Harris interview was edited to burnish her chances in the November election. CBS has denied the allegations, saying the edits were routine. The raw footage showed Harris was accurately quoted, but Trump's team said he suffered "mental anguish" from the broadcast. "They interviewed Kamala. Her answer was horrendous," Trump said Wednesday. "I would say election-threatening. ... Her answer was election-threatening it was so incompetent." 1st Amendment experts have called Trump's case frivolous, but Paramount wants to avoid waging an extensive legal fight. Paramount's leaders have pursued a settlement to help clear a path for the company's sale to Skydance - a deal that needs the approval of the FCC. The mediation process to resolve the lawsuit, filed in a Texas court, has become protracted. "They're working on a settlement," Trump said Wednesday. He mentioned that two high-level CBS executives - the head of CBS News and the executive producer of "60 Minutes" - had abruptly departed as the merger review dragged on. "They're all getting fired," he said. Late last week, Trump's legal team filed court documents asking for a deadline extension in the discovery process, disclosing the two sides were working to reach a resolution. Earlier this month, Ellison met Trump briefly while the two men were sitting ringside at a UFC fight in New Jersey, according to video footage shared online. Skydance declined to discuss Ellison's interaction with Trump. It marked the second time this year that Ellison chatted with the president at a UFC match. The first was in April. It's been nearly a year since Paramount's controlling shareholder Shari Redstone and fellow Paramount directors approved the two-phased $8-billion deal that will hand the company to the son of tech billionaire Larry Ellison, who is a Trump supporter. The deal will also see the Ellison family buy the Redstone investment vehicle, National Amusements Inc. Santa Monica-based Skydance intends to consolidate the company that boasts the Melrose Avenue Paramount film studio, Paramount+ streaming service, CBS and cable channels including Comedy Central, Showtime and BET. Skydance operations and personnel will be folded into Paramount. The deal faces one final regulatory hurdle: FCC Chairman Brendan Carr's consent to transfer 29 CBS television station licenses to the Ellisons from the Redstones. This week, the Senate approved Trump's second Republican appointment to the panel, Olivia Trusty. Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.
Time of India
2 days ago
- Entertainment
- Time of India
Anderson Cooper quitting CNN? $18 million star anchor may walk out — here's what reports reveal
Anderson Cooper recently made a significant behind-the-scenes move that has raised serious concerns in the media world. The veteran CNN anchor has hired a Hollywood "super agent," prompting speculation that he is planning his exit from the network altogether. Why did Anderson Cooper switch agents now? As CNN undergoes major cost-cutting and network restructuring, the move has sparked speculation about Cooper's future at the network, including whether he plans to move into entertainment or leave CNN entirely. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Dukung Orang Terkasih Menghadapi Limfoma: Mulai Di Sini Limfoma Klik Di Sini Anderson Cooper, who reportedly earns $18 million a year, is choosing Creative Artists Agency and its top deal broker, Bryan Lourd, over his longtime agency, United Talent Agency. Wiedenfels may target Cooper's high salary, according to a report published last week by Puck News. CNN however, did not disclose Cooper's salary. The network has also contested press figures. Live Events The news websites Variety and Semafor announced Cooper's relocation early on Tuesday. Variety claims that the CAA representative's clientele is more skewed toward Hollywood's elite than traditional broadcast journalists, making the choice to switch agents and hire Lourd noteworthy. A-list celebrities like Daniel Craig, Brad Pitt, Charlize Theron, Scarlett Johansson, and George Clooney have all expressed interest in hiring Lourd, as [er a report by The NY Post. ALSO READ: Trump about to fire Tulsi Gabbard? Explosive reports reveal why he's furious and done with her Is CNN cutting costs and salaries? As the traditional TV news model faces increasing financial pressures, Cooper's change of agencies has sparked speculation about whether the anchor may be getting ready to diversify his holdings or perhaps leave the network entirely. Over the years, the former war correspondent has expanded his media presence. Apart from hosting CNN's "Anderson Cooper 360," he also contributes to CBS's "60 Minutes" and has previously served as a guest host on "Jeopardy!" Could Anderson be planning a move beyond hard news? Cooper's recent agent change raises the possibility that there will be more development in the future, and these side gigs have allowed him to go beyond breaking bad news. Cooper's timing reportedly coincides with price reductions and a reevaluation of talent strategies by all networks. Cooper's bosses at Warner Bros. Discovery, the media conglomerate that owns CNN, are restructuring the company to separate its TV networks from its production and streaming businesses. Analysts believe this move could put the cable channels in a position to be sold in the future. Numerous seasoned anchors have been asked to accept pay reductions or fired. Cooper's former coworkers Don Lemon, Jim Acosta, and Alisyn Camerota have all left important positions, and Chris Wallace left CNN. FAQs Is Anderson Cooper actually leaving CNN? Nothing is confirmed yet, but his hiring of Hollywood agent Bryan Lourd has sparked speculation that he is planning to leave CNN or pursue new media opportunities. Why is Anderson Cooper's salary being scrutinized? According to reports, he earns approximately $18 million per year, which is significantly more than other CNN hosts with comparable ratings. Insiders believe that network cost-cutting may put him on the hot seat.
Los Angeles Times
2 days ago
- Business
- Los Angeles Times
Trump endorses Paramount merger with David Ellison's Skydance
President Trump has endorsed David Ellison's takeover of Paramount Global — an $8-billion merger that has been complicated by his $20-billion lawsuit over CBS' '60 Minutes.' On Wednesday, Trump was asked about the hold-up in the federal review of Skydance's takeover of the storied entertainment company. The question came as reporters clustered around the president on the White House lawn to watch the installation of a flagpole. The Paramount-Skydance deal has been pending at the Federal Communications Commission since late last fall. Trump said he hoped the deal goes through. 'Ellison is great. He'll do a great job with it,' Trump said. Then he appeared to connect the merger-review delay to his lawsuit against CBS and its parent Paramount over last fall's '60 Minutes' interview with then-Vice President Kamala Harris. Trump has maintained since last October that the Harris interview was edited to burnish her chances in the November election. CBS has denied the allegations, saying the edits were routine. The raw footage showed Harris was accurately quoted, but Trump's team said he suffered 'mental anguish' from the broadcast. 'They interviewed Kamala. Her answer was horrendous,' Trump said Wednesday. 'I would say it was election-threatening. I would say election-threatening because it was so incompetent.' 1st Amendment experts have called Trump's case frivolous, but Paramount wants to avoid waging an extensive legal fight. Paramount's leaders have pursued a settlement to help clear a path for the company's sale to Skydance — a deal that needs the approval of the FCC. The mediation process to resolve the lawsuit, filed in a Texas court, has become protracted. 'They are working on a settlement,' Trump said Wednesday. He mentioned that two high-level CBS executives — the head of CBS News and the executive producer of '60 Minutes' — had abruptly departed as the merger review dragged on. 'They're all getting fired,' he said. Late last week, Trump's legal team filed court documents asking for a deadline extension in the discovery process, disclosing the two sides were working to reach a resolution. Earlier this month, Ellison met Trump briefly while the two men were sitting ringside at a UFC fight in New Jersey, according to video footage shared online. Skydance declined to discuss Ellison's interaction with Trump. It marked the second time this year that Ellison chatted with the president at a UFC match. The first was in April. It's been nearly a year since Paramount's controlling shareholder Shari Redstone and fellow Paramount directors approved the two-phased $8-billion deal that will hand the company to the son of tech billionaire Larry Ellison, who is a Trump supporter. The deal will also see the Ellison family buy the Redstone investment vehicle, National Amusements Inc. Santa Monica-based Skydance intends to consolidate the company that boasts the Melrose Avenue Paramount film studio, Paramount+ streaming service, CBS and cable channels including Comedy Central, Showtime and BET. Skydance operations and personnel will be folded into Paramount. The deal faces one final regulatory hurdle: FCC Chairman Brendan Carr's consent to transfer 29 CBS television station licenses to the Ellisons from the Redstones. This week, the Senate approved Trump's second Republican appointment to the panel, Olivia Trusty.
Time of India
2 days ago
- Business
- Time of India
US Senate confirms Republican congressional aide to serve on FCC
By David Shepardson WASHINGTON: The U.S. Senate voted on Tuesday to confirm Republican Senate aide Olivia Trusty to serve on the Federal Communications Commission , days after two members of the telecommunications regulator resigned. Democratic FCC Commissioner Geoffrey Starks and Republican Nathan Simington stepped down on June 6. Trusty was confirmed to serve a term that lasts through June 30. A second vote is planned Wednesday for Trusty to serve a five-year term starting on July 1. The vote comes as President Donald Trump has pressured Republican FCC Chair Brendan Carr to strip CBS, which is owned by Paramount Global, of its broadcast licenses. Trump sued CBS News seeking $20 billion over its editing of a "60 Minutes" interview in October 2024 with then-Democratic presidential candidate Kamala Harris. CBS has denied that there was anything unusual in its editing of the Harris interview. Carr rejected a bid from CBS to dismiss the complaint, alleging the Harris interview violated the FCC's "news distortion" rules. CBS is seeking FCC approval for an $8.4 billion merger with Skydance Media. Carr has given no time frame for when the FCC might act on the merger. Trump has fired Democratic commissioners on other independent agencies including the Federal Trade Commission. Senator Maria Cantwell, the top Democrat on the committee overseeing the FCC, opposed Trusty's nomination. "Given President Trump's alarming record of seeking to illegally fire Democrats on independent commissions like the FCC, I remain seriously concerned that this administration will try to illegally terminate Democratic Commissioner Anna Gomez," Cantwell said. In January, Carr reinstated complaints about the "60 Minutes" interview with Harris, as well as complaints about how Walt Disney's ABC News moderated the pre-election TV debate between then-President Joe Biden and Trump. The FCC also reinstated complaints against Comcast's NBC for allowing Harris to appear on "Saturday Night Live" shortly before the election. Carr also pressured Verizon to roll back its diversity, equity and inclusion program before the FCC agreed to approve its $20 billion deal to acquire fiber-optic internet provider Frontier Communications.
