Latest news with #CaliforniaStateSenate
Yahoo
3 days ago
- Business
- Yahoo
California Senate Launches Paramount-Trump Settlement Talks Investigation, Invites Bill Owens and Wendy McMahon to Testify
The California State Senate has launched an investigation into Paramount Global's ongoing discussions with President Donald Trump to settle his $20 billion lawsuit against CBS. In a Friday letter, the state's lawmakers invited former '60 Minutes' executive producer Bill Owens and former CBS News president Wendy McMahon to testify as part of an investigation into Paramount's settlement discussions with President Donald Trump over his $20 billion lawsuit against the program's Oct. 7 interview with former vice president Kamala Harris. 'Your recent resignations from CBS's leadership, amid public reports of internal concern about the editorial and ethical implications of the proposed settlement, suggest that you may possess important, first-hand knowledge relevant to our legislative oversight responsibilities,' the joint letter from its Energy, Utilities & Communications committee chair Josh Becker and Judiciary committee chair Thomas Umberg states. 'If Paramount is entertaining a settlement primarily to secure favorable regulatory treatment, this raises deeply troubling implications not just for journalism, but for the rule of law and the integrity of corporate governance.' The committees are seeking information from the pair on whether newsroom staff raised internal objections to the settlement or its motivations, whether any editorial decisions were impacted or overridden, whether internal counsel or leadership acknowledged the weakness of the lawsuit's claims and whether anyone within the company indicated that the settlement may be 'advantageous or necessary' in order to influence the regulatory review of the pending $8 billion Skydance merger. The lawmakers argue that a settlement to clear regulatory approval of the Skydance deal could constitute a violation of federal anti-bribery laws, an infraction of California's unfair competition law, a breach of fiduciary duties owed by Paramount board members to shareholders and the misuse of corporate funds vulnerable to shareholder derivative litigation. 'These issues go beyond internal policy,' the letter states. 'They have real legal exposure for Paramount and its board of directors, including Ms. Shari Redstone, Ms. Barbara Byrne, Ms. Judith McHale, Ms. Linda Griego, and Ms. Susan Schuman.' They also said it could have a 'potential chilling effect' on investigative and political journalism, signaling 'politically motivated lawsuits can succeed when paired with regulatory threats.' 'It would damage public trust in CBS News and other California-based outlets, diminishing the state's stature as a national leader in ethical journalism. Paramount's capitulation would also undermine two essential pillars of a liberal democracy: a free press and an impartial, rule-of-law regulatory system,' the letter continues. The California State Senate noted that while the invite is a voluntary request, they retain full subpoena authority under California law should additional testimony or documentation become necessary during its investigation. 'We respectfully encourage you to participate in this important hearing,' the letter concluded. 'Your cooperation will help safeguard the values you have each worked to uphold in your distinguished careers.' Representatives for Paramount declined to comment on the letter. Owens resigned from '60 Minutes' in April, telling staff in a memo that he lost the ability to make independent decisions as the network. Meanwhile, McMahon resigned earlier this month, saying in a memo to staff that 'it's become clear the company and I do not agree on the path forward.' She described the tension between herself and Paramount as 'challenging.' Though neither referenced the Trump lawsuit directly, both executives had previously expressed opposition to a settlement. The lawsuit takes aim at the news program's Oct. 7 interview with former Vice President Kamala Harris, which Trump has said was deceptively edited to make her look good. CBS News has maintained that Trump's accusations of deceitful editing were false, explaining that the promo shown on 'Face the Nation' used a longer section of Harris' answer. It also turned over the transcript and camera footage from the interview to the FCC as part of the agency's investigation into allegations of 'news distortion.' In a March filing to dismiss the Trump suit, CBS called it 'an affront to the First Amendment' and 'without basis in law or fact.' In a Wednesday legal filing asking the court to deny Paramount's motion to dismiss, Trump's attorneys claimed that the interview caused him 'mental anguish and confusion.' They also said that 'viewers withheld attention from President Trump and Truth Social,' his social media platform, due to the 'false advertising and tampering' tied to the Harris interview, resulting in a decrease in value for Trump Media and Technology Group and his other media holdings. The Wall Street Journal reported that Trump recently shot down Paramount's offer to settle the lawsuit for $15 million, with the president aiming to get at least $25 million and an apology. The Paramount-Skydance merger, which is subject to regulatory approval from the FCC due to a required transfer of broadcast licenses of Paramount's 28 owned-and-operated local TV stations, recently triggered its first automatic 90-day extension after failing to close by April 7. FCC chairman Brendan Carr has argued that the settlement talks with Trump are unrelated to the agency's review of the Skydance deal. But he has warned that 'all options remain on the table' in the agency's ongoing investigation into alleged 'news distortion,' including potentially revoking CBS' broadcast license if the network is found to have violated the agency's public interest standard. He has also previously threatened to block M&A for companies who embrace diversity, equity and inclusion (DEI) policies and is reportedly seeking concessions in the Paramount-Skydance deal. Paramount's settlement talks come as Disney previously paid $15 million to settle a defamation lawsuit Donald Trump brought against ABC News and star anchor George Stephanopoulos. Meta also paid $25 million to settle Trump's lawsuit about being kicked off Facebook and Instagram after the attack on the Capitol on Jan. 6, 2021. The post California Senate Launches Paramount-Trump Settlement Talks Investigation, Invites Bill Owens and Wendy McMahon to Testify appeared first on TheWrap.
Yahoo
3 days ago
- Business
- Yahoo
California senate probing Paramount over 2024 $15M offer to Trump's campaign
-- The California State Senate has initiated an investigation into Paramount, following allegations that the network may have breached state laws pertaining to bribery and unfair competition. The probe was reported by Semafor on Friday. The investigation was triggered by reports of Paramount's offer of $15 million to President Donald Trump's 2024 campaign. This was purportedly to settle a lawsuit that was brought against CBS over an edited interview with Kamala Harris, Trump's Democratic rival. The Wall Street Journal had previously reported on this matter. In the latest development, the Senate's communications committee and judiciary committee have issued invitations to two former CBS News officials, requesting their testimony. The officials' identities and the specific details of their expected contributions to the investigation have not been disclosed. Related articles California senate probing Paramount over 2024 $15M offer to Trump's campaign S&P 500 falls amid new US-China tech sanctions Saudi Arabia reportedly planning massive Airbus order
Yahoo
3 days ago
- Business
- Yahoo
California opens inquiry into whether Paramount violated state bribery, competition laws, Semafor reports
WASHINGTON (Reuters) -The California State Senate has opened an inquiry into whether Paramount violated state laws against bribery and unfair competition, Semafor reported on Friday. The investigation comes after the network reportedly offered President Donald Trump's 2024 campaign $15 million to settle a lawsuit filed against CBS over an edited interview with his Democratic rival Kamala Harris, the Wall Street Journal previously reported. According to Semafaor, the Senate's communications committee and judiciary committee has invited two former CBS News officials to testify.
Yahoo
3 days ago
- Business
- Yahoo
California opens inquiry into whether Paramount violated state bribery, competition laws, Semafor reports
WASHINGTON (Reuters) -The California State Senate has opened an inquiry into whether Paramount violated state laws against bribery and unfair competition, Semafor reported on Friday. The investigation comes after the network reportedly offered President Donald Trump's 2024 campaign $15 million to settle a lawsuit filed against CBS over an edited interview with his Democratic rival Kamala Harris, the Wall Street Journal previously reported. According to Semafaor, the Senate's communications committee and judiciary committee has invited two former CBS News officials to testify. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CBS News
4 days ago
- General
- CBS News
Former LA Councilman Nate Holden celebration of life ceremony takes place Thursday
A celebration of life ceremony takes place Thursday for former Los Angeles City Councilmember Nate Holden, who served on the council for 16 years, from 1987 to 2003. Holden died on May 7 at 95 years old. "Nate Holden leaves behind a legacy of service and strength," Mayor Karen Bass said earlier in a statement. "Throughout his life, he put the South Los Angeles community front and center." Holden's accomplishments as a councilman included a gun buyback program in cooperation with the Los Angeles Police Department. He also introduced an initiative into Los Angeles law that required all children's toy guns to be brightly colored to avoid confusion with actual weapons. Following the 1992 Los Angeles riots, he was the driving force behind the rebuilding of the Crenshaw area. Before serving on the Los Angeles council, Holden served four years on the California State Senate from 1974 to 1978, where he authored and co-authored more than 70 bills that became law. Holden authored the bill establishing the Rev. Martin Luther King Junior's birthday as a state holiday, along with bills outlawing redlining on home mortgages, the Credit Denial Disclosure Act of 1976, increased funding for inner city schools, the creation of Baldwin Hills Regional Park, proliferation and control of liquor stores and property tax relief for senior citizens. Before his term as State Senator, Holden served as Assistant Chief Deputy to then-Los Angeles County Supervisor Kenneth Hahn for 12 years. "Nate Holden was a legend here in Los Angeles. He was a lion in the State Senate and a force to be reckoned with on the Los Angeles City Council," Supervisor Janice Hahn said at the time of his death. "I learned a lot sitting next to him in the chambers as a new Councilmember. He was a valued member of my father's staff for years and my dad relied on his unique brand of wisdom." Holden started his career in the aerospace industry as a design engineer for 17 years, which brought him to California. He is also a veteran of the U.S. Army. Holden was born in Macon, Georgia and spent most of his childhood in Elizabeth, New Jersey. He was honored in 2003 when the Nate Holden Performing Arts Center in Los Angeles was named after the Councilman. The celebration of life ceremony takes place at 11 a.m. on Thursday at West Angeles Church of God in South Los Angeles.
