Shari Redstone 'blown away' by $16M Trump-CBS settlement phrases deal

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Shari Redstone, the longtime media govt behind CBS and Paramount World, was "blown away" by the phrases of the "no-brainer" settlement with President Donald Trump that cleared the best way for a blockbuster merger with Skydance Media.

Trump sought $20 billion in his lawsuit in opposition to CBS over its dealing with of an edited "60 Minutes" interview final yr with then-Vice President Kamala Harris, accusing the community of election interference main as much as the 2024 contest. The dispute was settled in July, with Trump receiving $16 million upfront to cowl authorized charges, prices of the case, and contributions to his future presidential library or charitable causes.

The settlement paved the best way for the Federal Communications Fee (FCC) to approve a long-planned merger between Paramount World and Skydance Media. That allowed Redstone, who managed greater than three-quarters of Paramount’s Class A voting shares, to exit the newly shaped firm.

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Shari Redstone was ‘blown away’ by the phrases of the settlement with President Donald Trump.

The New York Occasions revealed on Tuesday that Redstone spoke to the paper a number of instances over the previous yr "with the understanding that nothing mentioned may very well be used till after the merger closed."

Critics have blasted the controversial settlement , as many really feel it was primarily a "bribe" to get FCC approval. Nevertheless it was revealed that Redstone was anticipating to pay a bigger sum and was thrilled that the community didn’t should difficulty an apology or admission of wrongdoing.

"I used to be blown away," Redstone advised the Occasions. "How did they do it? I don’t know, and I didn’t ask."

Earlier than deciding to settle Trump’s lawsuit in opposition to CBS, Redstone noticed that ABC Information agreed final yr to pay $15 million to Trump’s presidential library in an effort to settle a lawsuit after anchor George Stephanopoulos falsely insisted Trump had been discovered "chargeable for rape."

"Redstone thought the deal by Disney, ABC’s proprietor, made sense, given the excessive prices and dangers of litigation," the Times reported .

Redstone and her internal circle believed CBS would have a troublesome time beating Trump in a Texas court docket and wished to keep away from a dangerous discovery course of.

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Shari Redstone spoke to The New York Occasions a number of instances over the previous yr "with the understanding that nothing mentioned may very well be used" till the long-planned Paramount-Skydance merger closed. (David Paul Morris/Bloomberg by way of Getty Pictures)

Particularly, a 2023 interview performed with then-President Joe Biden might have resulted in accusations his shortcomings have been hid after he appeared "drowsy and needed to be prodded to reply," the Occasions reported, noting that others really feel "Redstone's issues concerning the Biden interview have been overblown."

"This case was by no means as black-and-white as folks assumed," Redstone mentioned. "I believed it was all the time in Paramount’s finest curiosity to settle."

Redstone recused herself from settlement talks however made it clear that she most well-liked to succeed in a deal.

"We might not just like the world we stay in, however a board has to do what’s in the perfect curiosity of shareholders," Redstone advised the Occasions.

The Occasions reported that legal professionals for Skydance have been additionally pushing for a settlement and warned that the potential merger may collapse with out an settlement. The settlement was reached in July.

There's an anticipation that there will likely be one other allocation within the eight figures put aside for commercials, public service bulletins, or different comparable transmissions, that will likely be funded by new possession. Skydance has not publicly commented on it, however the Occasions reported Redstone was "upset" about any form of facet deal.

PARAMOUNT, CBS FORCED TO PAY EIGHT FIGURES, CHANGE EDITORIAL POLICY IN SETTLEMENT WITH PRESIDENT TRUMP

President Trump settled his election interference lawsuit with Paramount and CBS Information in July. (Left: (Photograph by Anna Moneymaker/Getty Pictures), Proper: (Photograph by Tasos Katopodis/Getty Pictures), Proper: Photographer: Al Drago/Bloomberg by way of Getty Pictures)

The deal turned official on August 7 and the corporate, dubbed "Paramount, a Skydance Company," is now run by CEO David Ellison, the son of billionaire Oracle co-founder Larry Ellison .

"My legacy was to create safety for my household and to place the corporate in good fingers," Redstone advised the Occasions.

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Brian Flood is a media editor/reporter for FOX Information Digital. Story suggestions could be despatched to brian.flood@fox.com and on Twitter: @briansflood.