Paramount To Pay $16 Mln To Settle Lawsuit By Trump Over Interview With Kamala Harris

RTTNews | 445 days ago
Paramount To Pay $16 Mln To Settle Lawsuit By Trump Over Interview With Kamala Harris

(RTTNews) - Media firm Paramount Global has agreed to pay $16 million to settle a legal dispute with U.S. President Donald Trump, over its '60 Minutes' interview with former Vice President Kamala Harris, reports said. The interview was broadcast on Paramount's affiliated CBS network last year, ahead of the 2024 Presidential election.

Trump had filed a lawsuit last October in the Northern District of Texas seeking $20 billion in damages, after alleging that the network had deceptively edited the interview with Harris, then Vice President and the Democratic Presidential nominee, to be in favour of the Democratic party.

Paramount reportedly agreed to settle the lawsuit with the help of a mediator, and the payment includes the President's legal fees. The money would be allocated to Trump's future Presidential library, and not paid to him directly or indirectly.

Meanwhile, the company, which previously asked the judge to dismiss the lawsuit saying its completely without merit, is not issuing a statement of apology or regret under the settlement.

Paramount reportedly said, "The settlement will include a release of all claims regarding any CBS reporting through the date of the settlement, including the Texas action and the threatened defamation action."

Paramount also agreed that 60 Minutes will release transcripts of interviews with future Presidential candidates.

The developments are not expected to affect Paramount's planned merger with Skydance Media.

Earlier, Walt Disney-owned ABC News had settled a defamation case brought by Trump.

read more
Paramount Global To Merge With Skydance; Stock Up

Paramount Global To Merge With Skydance; Stock Up

Media major Paramount Global and Skydance Media, founded by David Ellison, son of Oracle founder Larry Ellison, announced late Sunday their agreement to merge in an all-stock transaction, to form New Paramount at an enterprise value of around $28 billion. In pre-market activity on the Nasdaq, Paramount Global shares were gaining around 4.7 percent.
RTTNews | 805 days ago
Paramount Stock Up In Pre-market On Reports Of Sony-Apollo Joint Bid Talks

Paramount Stock Up In Pre-market On Reports Of Sony-Apollo Joint Bid Talks

Sony Pictures Entertainment, affiliated to Japanese conglomerate Sony Group Corp., is in discussions with US private equity group Apollo Global for making a joint takeover bid for entertainment giant Paramount Global, reports said citing people familiar with the matter. The talks are said to be in an early stage. Following the news, Paramount Global shares were gaining around 10.7 percent...
RTTNews | 885 days ago
Bay Street Likely To Open On Positive Note

Bay Street Likely To Open On Positive Note

Canadian stocks may open higher on Monday as a sharp drop in oil prices is expected to ease concerns about inflation. Oil prices fell sharply today amid hopes for a progress in diplomatic talks to ease tensions between Iran and the U.S.
RTTNews | 1h 1min ago
Wall Street Likely To Open On Firm Note

Wall Street Likely To Open On Firm Note

Notably higher futures and easing concerns about inflation following a sharp fall in oil prices point to a positive start for U.S. stocks Monday morning.
RTTNews | 1h 22min ago
FTSE 100 Climbs Higher Amid Oil Decline, U.K. Housing Recovery

FTSE 100 Climbs Higher Amid Oil Decline, U.K. Housing Recovery

The FTSE 100 advanced 95.80 points to 10,754.93 on Monday as Brent crude dropped 3.5% to $100.20 amid diplomatic progress expectations at the UN. U.K. house prices rose 0.7% month-on-month in September, the first increase in four months.
RTTNews | 2h 41min ago
CAC 40 Climbs As Oil Prices Fall On Middle East Diplomatic Hopes

CAC 40 Climbs As Oil Prices Fall On Middle East Diplomatic Hopes

France's CAC 40 benchmark climbed 0.98% as oil prices fell sharply on hopes for Middle East diplomatic progress. Brent crude dropped to $101.19, losing over 2.5%. Geopolitical tensions eased following discussions between U.S. and Gulf leaders.
RTTNews | 3h 3min ago