Paramount Settles Trump's '60 Minutes' Suit for $16 Million
We're focused on Paramount. The shares are lower for the first time in six days, down about 1%, with the media company settling a lawsuit brought by President Trump over a CBS News interview. Former Vice President Kamala Harris executives sharing why they agreed to the $16 million settlement at the annual shareholder meeting earlier. One analyst says it could clear the path to a merger with Skydance. Let's bring in Bloomberg's Hannah Miller. But Hannah, officially, those two things are unrelated, aren't they? They are unrelated, but many industry watchers are saying this removes a key obstacle to the $8 billion merger between Skydance and Paramount. So tell me a little bit more about this $60 million settlement that Paramount has agreed to. How does that compare to what people thought they would have to pay it? You know, Trump was suing for a huge amount of money, billions of dollars here. It's comparable to another settlement that President Trump had with ABC News over alleged defamation against him. With this settlement, you know, the $16 million settlement that is being paid to cover President Trump's legal costs. The leftover money will go to his presidential library. He is not personally getting any money here. And important to note here as well, that Paramount is not apologizing for what happened, right? That is correct. With ABC News, we saw that they had to issue an apology. Paramount does not have to do that. It doesn't have to do that. But the folks inside CBS News, the news organization, the journalists there are upset and many people have left the organization as well. Tell us a little bit about the fallout there. The mood is very bleak there. People see this settlement as a betrayal of journalistic values. They think that they are kowtowing to Trump. They felt that this interview that he was so upset about with Harris was properly edited, that it went through standard procedures and that his case had no standing. You talked about how the FCC is reviewing Paramount and Skydance's merger. Brendan Carr, one of the FCC commissioners or the head of the FCC, has also been looking into other networks, other media companies. What else is outstanding on that front? Yeah, So one of the things we'll be looking at with the Paramount merger is if if certain concessions have to be put in place. There are media watch groups asking for changes at Paramount, including opening news bureaus in other parts of the country, not just in coastal cities. And including a an ombudsman who will actually review stories and look out for bias. So people are concerned about actual changes happening in the newsroom and that further integrity could be compromised.
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Forbes
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- Forbes
America's Cold War Aircraft Are Still Flying After Decades In Service
Last month, the United States Air Force carried out a far from routine flight of a variant of the Lockheed U-2 Dragon Lady reconnaissance aircraft. The TU-2S, the two-seat trainer of the U-2, flew over all 48 contiguous states, the longest single flight ever conducted by the high-flying spy plane. It wasn't part of the Trump administration surveillance program that the U-2 had been carrying out along the southern border since earlier this year. Instead, it was to mark the 70th anniversary of the Dragon Lady's "accidental maiden flight" on August 1, 1955. The historic anniversary flight came just over a month after the Air Force Global Strike Command also celebrated the 70th anniversary of the delivery of the first Boeing B-52 Stratofortress to the 93rd Bombardment Wing at Castle Air Force Base (AFB), California, marking the start of its operational service. The fact that the U.S. Air Force has two aircraft in service that are in their "golden years" is noteworthy, but not surprising given that each remains highly capable. "The U-2 and B-52 still remain in service with the U.S. Air Force for two primary reasons: a) they continue to perform their intended role effectively, and b) they are more economical to operate and maintain," said Sourabh Banik, project manager for aerospace and defense at international analytics firm GlobalData. The U.S. Air Force currently operates 76 B-52s and 31 U-2s. The Golden Girls Of Aircraft Although the U-2 could be retired by the end of fiscal year 2026 (FY26), it has continued to find a role even in the era of high-flying drones and satellites. "No other surveillance platforms can ascend to altitudes higher than the U-2, with the exception of satellites," added Banik. "However, unlike satellites, which are bound to their orbital paths, U-2s have the capability to loiter over a specific area for an extended duration, providing continuous monitoring of their targets." Moreover, the U-2 has proven to be far more flexible than satellites, as it can be outfitted with various payloads tailored to the mission at hand, a function not afforded to satellites. "The U-2 has undergone numerous upgrades over the years; the bulky film cameras of the 1960s have been replaced with smaller, lighter sensors, allowing the aircraft to carry a more diverse array of surveillance equipment than previously possible," Banik continued. Similar enhancements have allowed the B-52 to keep flying. Current plans call for the B-52 to remain operational into the 2040s and even longer, meaning it could see 100 years in service. In theory, the final aircrews could be the grandchildren and even great-grandchildren of those who operated the very same planes before the Beatles first came to America. Few military platforms – possibly apart from the Long Pattern Musket, also known as the Brown Bess, or the M2 .50 caliber machine gun – have ever seen anything close to that longevity. "There are a lot of reasons, for one, the B-52H models that are now flying rolled off the assembly line between 1960 and 1962," explained Lt. Col. Wayne Shaw, USAF (Retired), principal consultant for aerospace and defense at business consulting firm Frost and Sullivan. Shaw, who was a B-52 aircrew member during the days of the Strategic Air Command before transitioning to the Rockwell B-1B, added that the Stratofortress can be described as a safe platform, with a low class A mishap rate. "The B-52Hs – soon to be B-52Js after they receive a host of needed 'mid-life' upgrades primarily to their old and tired Pratt & Whitney TF33 engines – may make it 30 more years, or very close," said Shaw. The Air Force's Commercial Engine Replacement Program calls for the TF33 engines to be replaced with the commercially-proven Rolls-Royce F130 engines. Other upgrades have included new workstations and new radar systems, and even a privacy screen for the aircraft's lavatory, all of which will help ensure it remains in the category of "active senior" for quite a while yet. Shaw further suggested that the U.S. Air Force's fleet of 76 B-52s will be "reskinned" as needed, and "along with these other factors, it's safe to say the B-52 can still be flying in 2040. That's 85 years from then, the type first started flying, and 80 years for the B-52Hs, which were the last ones off the Boeing assembly line. Never underestimate the B-52." Friends In High Places Another factor for the B-52's success is that a total of 744 were built by the time production ended in 1962. That is significantly smaller in numbers compared to the 18,482 Consolidated B-24 Liberators that rolled off the assembly line during World War II, and just over a third of the number of Boeing B-47 Stratojets built. Yet, the B-52 wasn't replaced by another bomber as those aircraft were, and for that reason, it saw subsequent crews at the controls. It became the workhorse and soon gained significant fame and the fans that came with it. Beyond having a new wave band named after it, or more accurately, the beehive hairdo that resembled the nose cone of the aircraft, those who flew on the bomber went on to serve in prominent roles with the U.S. Air Force. "There have been thousands upon thousands of B-52 aircrews over the years because of the size of its fleet," said Shaw. "They became an advocate for the bomber, and they rose through the ranks, and that resulted in a formal and informal fan base." Shaw suggested that there will always be vocal critics and supporters, and the larger number of aircrews from the B-52s has resulted in there often being someone sitting at the end of a table who knows what the BUFF is capable of when air power is discussed, who speaks up and says, "The B-52 can do that." In that way, Shaw further likens the vocal support to another product of the 1960s, namely TV's Star Trek, which was on the verge of cancellation, until a letter-writing campaign saved the show. "Star Trek fans brought it back for a third season," said Shaw. "The larger number of aircrews has ensured the B-52 was never out of mind."
Washington Post
a few seconds ago
- Washington Post
UCLA says Trump administration has frozen $584 million in grants, threatening research
The Trump administration has suspended $584 million in federal grants for the University of California, Los Angeles, nearly double the amount that was previously thought, the school's chancellor announced Wednesday. UCLA is the first public university whose federal grants have been targeted by the administration over allegations of civil rights violations related to antisemitism and affirmative action. The Trump administration has frozen or paused federal funding over similar allegations against private colleges. 'If these funds remain suspended, it will be devastating for UCLA and for Americans across the nation,' Chancellor Julio Frenk said Wednesday in a statement, noting the groundbreaking research that has come out of the university. The departments affected rely on funding from the National Science Foundation, the National Institutes of Health and the Department of Energy, Frenk said. The U.S. Department of Education did not immediately respond to an email from The Associated Press requesting comment. The Trump administration recently announced the U.S. Department of Justice's Civil Rights Division found UCLA violated the Equal Protection Clause of the Fourteenth Amendment and Title VI of the Civil Rights Act of 1964 'by acting with deliberate indifference in creating a hostile educational environment for Jewish and Israeli students.' The announcement came as UCLA reached a $6 million settlement with three Jewish students and a Jewish professor who sued the university, arguing it violated their civil rights by allowing pro-Palestinian protesters in 2024 to block their access to classes and other areas on campus. The university has said that it is committed to campus safety and inclusivity and will continue to implement recommendations. The new UC president, James B. Milliken, said in a statement Wednesday that it has agreed to talks with the administration over the allegations against UCLA. 'These cuts do nothing to address antisemitism,' Milliken said. 'Moreover, the extensive work that UCLA and the entire University of California have taken to combat antisemitism has apparently been ignored.' Milliken said the 'cuts would be a death knell for innovative work that saves lives, grows our economy, and fortifies our national security. It is in our country's best interest that funding be restored.' As part of the lawsuit settlement, UCLA said it will contribute $2.3 million to eight organizations that combat antisemitism and support the university's Jewish community. It also has created an Office of Campus and Community Safety, instituting new policies to manage protests on campus. Frenk, whose Jewish father and grandparents fled Nazi Germany to Mexico and whose wife is the daughter of a Holocaust survivor, launched an initiative to combat antisemitism and anti-Israeli bias. Last week, Columbia agreed to pay $200 million as part of a settlement to resolve investigations into the government's allegations that the school violated federal antidiscrimination laws. The agreement also restores more than $400 million in research grants. The Trump administration plans to use its deal with Columbia as a template for other universities, with financial penalties that are now seen as an expectation.
Associated Press
a few seconds ago
- Associated Press
UCLA says Trump administration has frozen $584 million in grants, threatening research
The Trump administration has suspended $584 million in federal grants for the University of California, Los Angeles, nearly double the amount that was previously thought, the school's chancellor announced Wednesday. UCLA is the first public university whose federal grants have been targeted by the administration over allegations of civil rights violations related to antisemitism and affirmative action. The Trump administration has frozen or paused federal funding over similar allegations against private colleges. 'If these funds remain suspended, it will be devastating for UCLA and for Americans across the nation,' Chancellor Julio Frenk said Wednesday in a statement, noting the groundbreaking research that has come out of the university. The departments affected rely on funding from the National Science Foundation, the National Institutes of Health and the Department of Energy, Frenk said. The U.S. Department of Education did not immediately respond to an email from The Associated Press requesting comment. The Trump administration recently announced the U.S. Department of Justice's Civil Rights Division found UCLA violated the Equal Protection Clause of the Fourteenth Amendment and Title VI of the Civil Rights Act of 1964 'by acting with deliberate indifference in creating a hostile educational environment for Jewish and Israeli students.' The announcement came as UCLA reached a $6 million settlement with three Jewish students and a Jewish professor who sued the university, arguing it violated their civil rights by allowing pro-Palestinian protesters in 2024 to block their access to classes and other areas on campus. The university has said that it is committed to campus safety and inclusivity and will continue to implement recommendations. The new UC president, James B. Milliken, said in a statement Wednesday that it has agreed to talks with the administration over the allegations against UCLA. 'These cuts do nothing to address antisemitism,' Milliken said. 'Moreover, the extensive work that UCLA and the entire University of California have taken to combat antisemitism has apparently been ignored.' Milliken said the 'cuts would be a death knell for innovative work that saves lives, grows our economy, and fortifies our national security. It is in our country's best interest that funding be restored.' As part of the lawsuit settlement, UCLA said it will contribute $2.3 million to eight organizations that combat antisemitism and support the university's Jewish community. It also has created an Office of Campus and Community Safety, instituting new policies to manage protests on campus. Frenk, whose Jewish father and grandparents fled Nazi Germany to Mexico and whose wife is the daughter of a Holocaust survivor, launched an initiative to combat antisemitism and anti-Israeli bias. Last week, Columbia agreed to pay $200 million as part of a settlement to resolve investigations into the government's allegations that the school violated federal antidiscrimination laws. The agreement also restores more than $400 million in research grants. The Trump administration plans to use its deal with Columbia as a template for other universities, with financial penalties that are now seen as an expectation.
