Paramount and representatives of President Trump are set to meet before a mediator on Wednesday to resolve Trump’s $20 billion lawsuit against CBS. The lawsuit stems from allegations that CBS deceptively edited a “60 Minutes” interview with Kamala Harris to sway the 2024 election in her favor.
The meeting comes at a critical time for Paramount, as the company is finalizing an $8 billion merger with independent studio Skydance. The merger is awaiting approval from Trump’s Federal Communications Commission, and settling the lawsuit is seen as a way to expedite the approval process.
Shari Redstone, the controlling shareholder of Paramount, has expressed a desire to settle the case and address other demands from the Trump FCC to move the deal forward. These demands include ending Diversity, Equity, and Inclusion policies that lead to illegal racial quotas in hiring, as well as ensuring that CBS abides by FCC fairness rules for unbiased news coverage.
Trump FCC chair Brendan Carr has been vocal about his concerns regarding DEI policies and political bias in news programming. Paramount and Skydance are reportedly willing to meet Carr’s demands in order to secure approval for the merger. This includes ending DEI policies and ensuring that programming meets fairness metrics.
Conservatives have criticized CBS for alleged political bias in its news coverage, particularly on “60 Minutes.” The FCC launched a probe into the network earlier in the year following a complaint about the Harris interview. The outcome of the mediation could have significant financial and reputational implications for Paramount and CBS.
Legal experts have questioned the merits of Trump’s lawsuit against CBS, as it may not meet the standard for proving damages to his election efforts. However, a settlement could still be reached to avoid a costly legal battle. Redstone is likely looking to resolve the matter with a small settlement and possibly an apology to Trump.
Overall, the outcome of the mediation will have implications for both Paramount and CBS, as well as the future of the Skydance merger. The resolution of the lawsuit could impact the credibility of CBS as a respected news outlet, and the financial implications could be significant for all parties involved.
