In a twist that has sent shockwaves through the media industry, President Donald Trump has claimed that his recent settlement with Paramount Global over a lawsuit against CBS’s “60 Minutes” is worth significantly more than the widely reported $16 million.
Speaking to reporters late Thursday night after a rally in Iowa, Trump asserted that the deal includes not only the $16 million payout but also an additional sum — potentially up to $19 million — in advertising, bringing the total value to as much as $35 million. “We did a deal for about $16 million plus $16 million, or maybe more than that in advertising,” Trump said, according to a White House pool report.
However, Paramount Global swiftly denied these claims, stating that the settlement does not include any provisions for public service announcements (PSAs) or free advertising airtime. “Contrary to some news reports or media speculation, Paramount’s settlement with President Trump does not include PSAs or anything related to PSAs,” the company said in a statement. “Paramount has no knowledge of any promises or commitments made to President Trump other than those set forth in the settlement proposed by the mediator and accepted by the parties.”
The settlement stems from a lawsuit filed by Trump in October 2024, alleging that CBS News deceptively edited a “60 Minutes” interview with then-Vice President Kamala Harris to portray her in a more favorable light during the presidential election.
Trump initially sought $10 billion in damages, later increasing the claim to $20 billion, citing election interference and violations of Texas consumer protection laws.
The $16 million settlement, which includes Trump’s legal fees and a contribution to his future presidential library, was announced on July 2, 2025, and also requires “60 Minutes” to release transcripts of future interviews with presidential candidates, subject to redactions for legal or national security reasons.
Trump’s legal team hailed the settlement as a victory, stating, “With this record settlement, President Donald J. Trump delivers another win for the American people as he, once again, holds the Fake News media accountable for their wrongdoing and deceit.”
Yet, Trump’s claim of additional advertising value has raised eyebrows, particularly as it aligns with reports of a supposed “side deal” with Skydance Media CEO David Ellison, whose company is in the process of merging with Paramount in an $8.4 billion deal.
The New York Post reported that Ellison had promised Trump free advertising time on Paramount’s networks post-merger, valued between $15 million and $20 million. Paramount and Skydance have both denied these claims, and no formal agreement for additional payments or PSAs has been confirmed.
The timing of the settlement has fueled speculation that Paramount’s decision was influenced by its need for Federal Communications Commission (FCC) approval for the Skydance merger, which involves the transfer of Paramount’s local broadcast licenses.
Critics, including Democratic lawmakers and press freedom advocates, have labeled the settlement as a form of extortion, arguing that Paramount capitulated to avoid jeopardizing the merger.
FCC Commissioner Anna Gomez called it a “desperate move” that “casts a long shadow over the integrity of the transaction pending before the FCC.” Senators Bernie Sanders, Elizabeth Warren, and others have even raised concerns about potential bribery, prompting calls for investigations.
The controversy has also sparked internal turmoil at CBS News.
The settlement led to the resignations of CBS News CEO Wendy McMahon and “60 Minutes” executive producer Bill Owens, both of whom cited concerns over editorial independence. “60 Minutes” correspondents, including Bill Whitaker and Scott Pelley, expressed dismay, warning that settling the case could “undermine the First Amendment.”
The Writers Guild of America East condemned the deal as a “transparent attempt to curry favors with an administration” to secure merger approval.
For other media companies, Trump’s tactics serve as a cautionary tale. His history of leveraging lawsuits against outlets like ABC News, which settled for $15 million, and Meta, which paid $25 million, suggests a pattern of using legal pressure to extract concessions.
The Paramount settlement, coupled with Trump’s bold claims of a higher payout, underscores the risks of engaging with a president known for his aggressive stance toward the press. As one X post put it, “The cowards at Paramount have proved to the Con-in-Chief that they can be extorted.”
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With the Skydance merger still under FCC review, the fallout from this settlement is far from over. Paramount’s insistence that the deal is unrelated to the merger has done little to quell accusations of impropriety. Whether Trump’s claim of a $35 million deal holds any truth or is merely an embellishment for political clout, the episode has left a stain on Paramount’s reputation and raised serious questions about the intersection of media, politics, and corporate interests. For now, the media industry watches warily, aware that settling with Trump may invite more lawsuits — and more headaches — in the future.
