Trump's lawsuit against CBS News takes stunning turn as president demands more money
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.
Paramount brass believes any large settlement could be considered a bribe, since the the company's $8 billion merger with Skydance must be approved by the Trump administration.
The decision led Trump's team to demand even more money, after a $35 million settlement was 'recently' offered and considered by both sides, the Post reported.
The two sides remain in negotiations.
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.
CBS News parent Paramount was hesitant to settle the $20 billion suit over fears of facing legal backlash for bowing to the president
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.
Several Congressional Democrats have raised the question of bribery in the deal.
With midterm elections approaching, Paramount executives reportedly fear that any gains made by Democrats could open the company up to criminal investigation.
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.
Today, it's worth around $8 billion - less than half the sum Trump is suing for.
The lawsuit filed last October accuses CBS, Paramount and 60 Minutes of deceptively editing an interview with then–Democratic presidential nominee Harris just weeks before the election.
Trump alleges the footage was manipulated to 'tip the scales' in Harris's favor.
CBS has denied the claim, slamming the allegations as coming 'completely without merit.'
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.
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