Connect with us

Politics

How Paramount's $16-million Trump settlement came together — and could've fallen apart

Published

on

How Paramount's -million Trump settlement came together  — and could've fallen apart

By early spring, Paramount Global was in crisis. President Trump wouldn’t budge from his demand for an eye-popping sum of money and an apology from the company to settle his lawsuit over a CBS News “60 Minutes” interview with Kamala Harris. Journalists at the storied broadcaster were in revolt against the parent company.

Meanwhile, Paramount’s board faced withering pressure, with a settlement widely seen as a prerequisite for getting government approval for the company’s $8-billion sale to David Ellison’s Skydance Media, or the deal would collapse.

Then a new emergency erupted.

On May 4, CBS aired a hard-hitting “60 Minutes” segment that took aim at Trump’s targeting of law firms. Correspondent Scott Pelley anchored the report, which relied heavily on an interview with a leading Trump irritant — former top Hillary Clinton advisor Marc Elias.

Trump was furious. He threatened Paramount with an additional lawsuit alleging defamation, according to people close to the situation who were not authorized to comment.

Advertisement

The behind-the-scenes drama eventually would culminate with Paramount agreeing to pay $16 million to end the president’s battle over edits to October’s Harris interview, which Trump alleged was manipulated to boost the then-vice president’s election chances. Trump’s suit had demanded $20 billion in damages.

The deal resulted from months of back-and-forth among a constellation of power players with competing interests: the president, mogul Shari Redstone, tech billionaire Larry Ellison and his son David, Hollywood super agent Ari Emanuel, CBS News’ ousted leader Wendy McMahon and Jeff Shell, a former NBCUniversal chief now with RedBird Capital Partners, which backs Ellison’s Skydance.

The settlement, which the president approved late Tuesday, included a commitment by Trump to drop his claims and not sue over the May “60 Minutes” broadcast, according to sources and a Paramount statement.

Paramount said it agreed to pay Trump’s legal fees. The remainder of the $16-million settlement will go toward his future presidential library.

“Larry Ellison is a friend of mine. He’s a great guy,” Trump told reporters following a Thursday night rally in Iowa. “I think he’s going to run CBS really well, and I think he’s making a good deal to buy it.”

Advertisement

The beleaguered company behind “Mission: Impossible” and “Yellowstone” mustered victories during the negotiations, withstanding the Trump team’s earlier demand for a $100-million payout, the knowledgeable sources said.

The company also refused to apologize for CBS’ reporting or edits, a stance to protect its journalistic ethics and 1st Amendment rights.

“This settlement allows Paramount to focus on its prospective sale, and CBS can maintain its principles,” said C. Kerry Fields, a business law professor at the USC Marshall School. “But principle has its price, and there certainly was one set here.”

The eight-month skirmish with Trump shined a harsh light on Paramount’s vulnerabilities — and deep divisions within the company and its prospective new owners.

Paramount had a narrow window to reach a truce. The company wanted to finalize the settlement before Wednesday, when Paramount held its annual shareholder meeting and three new members joined the board.

Advertisement

“This [settlement] was all about survival — it was that dark,” Fields said. “Paramount has to execute the sale to Skydance in order to survive.”

At first, Paramount’s sale to the Ellison family seemed like a sure bet. Larry Ellison, co-founder of Oracle Corp., is close to Trump and his company is a possible buyer for TikTok, another deal of interest to the president. The landmark Paramount-Skydance deal, struck a year ago, could reshape one of Hollywood’s original studios and the entertainment landscape.

Redstone and her family agreed to part with their entertainment holdings, National Amusements Inc., and controlling Paramount shares. The family’s shaky finances were a catalyst for the sale. Redstone has borrowed heavily to meet debt obligations, including a $186-million term loan from Larry Ellison last year. The family is waiting for the cash from the sale of Paramount and National Amusements to the Ellisons and RedBird, a private equity firm.

But an unexpected misstep altered the deal’s course.

Last fall, “60 Minutes” invited Trump and Harris to participate in preelection interviews. Trump agreed, then backed out. CBS News went forward with a Harris sit-down.

Advertisement

Former Vice President Kamala Harris talks to “60 Minutes” correspondent Bill Whitaker.

(CBS News)

Correspondent Bill Whitaker asked Harris about the Biden administration’s rocky relations with Israel’s prime minister. Producers used different portions of her answer on two programs: a convoluted response on CBS’ Sunday morning show “Face the Nation,” and a more succinct part on “60 Minutes.”

Trump and his supporters zeroed in on the discrepancy. They accused CBS of doctoring the interview. CBS News denied the allegation, saying the edits were routine.

Advertisement

Days before the election, Trump sued in Amarillo, Texas, ensuring the case would be overseen by a Trump-appointed judge.

His lawsuit alleged the “60 Minutes” edits amounted to election interference — “malicious, deceptive, and substantial news distortion calculated to confuse, deceive, and mislead the public,” in the suit’s words.

US President Donald Trump in the Oval. Photographer: Jim Lo Scalzo/EPA/Bloomberg via Getty Images

President Donald Trump in the Oval Office.

(Bloomberg)

1st Amendment experts said the case had no merit; some figured it was a campaign stunt.

Advertisement

Days later, Shell, the RedBird executive who will become Paramount’s president should Skydance take over, held a conference call with top CBS executives. Shell suggested “60 Minutes” release the full Harris interview transcript in a bid for transparency, according to people familiar with the matter.

News executives refused, drawing a clear division between some high-level Paramount executives and Ellison’s team.

Those Paramount executives have bristled over Shell’s involvement, including a comment he reportedly made to McMahon late last year, stating the company eventually would have to settle. Skydance has said it has an agreement with Paramount that gives Ellison and Shell the ability to give input on key business issues — even before acquiring Paramount.

A spokesperson for Shell declined to comment.

The role of Shell, ousted from his previous role running NBCUniversal after acknowledging an inappropriate relationship with an underling, has been controversial. Representatives for the creators of “South Park” have accused him of overstepping his authority and meddling with a protracted negotiation over their overall deal and streaming rights to the long-running cartoon. A representative for Shell denied that accusation.

Advertisement

Trump had scored previous victories over media organizations. In December, the Walt Disney Co. agreed to pay him $16 million, including $1 million for his attorney fees, to end a dispute stemming from ABC anchor George Stephanopoulos’ inaccurate description of Trump’s liability in a civil court case. Press advocates howled.

Paramount held firm. But it failed to get Trump’s case dismissed or moved to a court in New York, where CBS and “60 Minutes” are based.

So the company was in a box. Its sale to Skydance requires the approval of the Federal Communications Commission to transfer CBS TV station licenses to the Ellisons, and that consent has been elusive.

In one of his first moves as FCC chairman, Trump appointee Brendan Carr launched an inquiry into whether CBS’ edits of the Harris interview rose to the level of news distortion — the crux of Trump’s lawsuit.

In February, Carr demanded CBS release a raw transcript of the Harris interview and the unedited footage. CBS complied; the material showed Harris had been accurately quoted.

Advertisement

The Texas judge ordered Paramount and Trump’s lawyers into mediation. Talks began April 30.

That weekend, “60 Minutes” ran its report on Trump and the law firms, riling Redstone and others. The Trump team and Paramount were already far apart, the sources said.

Soon, CBS News and Stations President Wendy McMahon was forced out. Knowledgeable sources attributed her departure to months of strife and persistent criticism from Redstone, who serves as Paramount’s chair. McMahon also made missteps, including overseeing an unsuccessful reboot of “CBS Evening News.”

Her exit followed that of Bill Owens, the longtime executive producer of “60 Minutes,” who fought efforts to settle.

The day McMahon was ousted, left-leaning U.S. Sens. Elizabeth Warren (D-Mass.), Bernie Sanders (I-Vt.) and Ron Wyden (D-Ore.) lobbed a salvo at Redstone. In a May 19 letter, they warned that Paramount board members risked possible bribery charges if they paid Trump to settle the lawsuit as a way to win FCC approval for the Skydance deal.

Advertisement

By early June, Redstone and the Ellison team were getting restless.

Emanuel, the agent, stepped in to help get the dealmaking back on track, people familiar with the matter said. Emanuel is Trump’s former talent agent and one of Ellison’s closest allies.

On June 7, Ellison met briefly with Trump at a UFC event in New Jersey. Emanuel is executive chairman of the WME Group and chief executive of UFC’s parent company, TKO.

According to a source, Emanuel associate Dana White, the Trump-supporting UFC chief executive, helped facilitate the Ellison meeting with the president, which occurred steps away from the fighters’ octagon.

People close to Ellison and Emanuel declined to discuss Ellison’s interactions with the president. Representatives of Skydance, Redstone and Emanuel declined to comment for this story.

Advertisement

Finally, a breakthrough came when Trump offered support for Ellison and the Skydance deal, though he continued to blast Harris and CBS News.

“Ellison is great,” Trump said from the White House lawn on June 18. “He’ll do a great job with it.” Late Thursday, Trump called David Ellison “a fantastic young man.”

Meanwhile, the clock was ticking. Redstone and others wanted the board to handle the settlement before the shareholder meeting, when one director stepped down, and three new members joined the board.

Redstone recused herself from voting but made her wishes known.

The settlement was finally reached about 10 hours before the Paramount board switched.

Advertisement

One person close to the legal effort said the agreement “got over the finish line” due to a sweetener for Trump. His team anticipates that Paramount networks eventually will run millions of dollars worth of free commercials, or public service announcements, in support of Trump causes, including combating antisemitism and increasing border security.

Trump also referenced the alleged side deal.

“We did a deal for about $16 million plus $16 million — or maybe more than that in advertising,” Trump said. “So [the settlement] is like $32- to maybe $35 million.”

Paramount said it agreed to a $16-million settlement. .

“Paramount’s settlement with President Trump does not include 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.”

Advertisement

Skydance declined to comment. Emanuel did not respond to messages.

The settlement does contain another provision championed by Trump.“60 Minutes” will release transcripts of interviews with eligible U.S. presidential candidates after those interviews air, “subject to redactions as required for legal or national security concerns,” Paramount said.

1st Amendment advocates were disheartened by the deal. So were Trump’s enemies, including the senators who had vowed to investigate the deal for bribery.

Paramount’s move to “settle a bogus lawsuit with President Trump over a “60 Minutes” report he did not like is an extremely dangerous precedent,” Sanders, the U.S. senator, said in a statement. “Paramount’s decision will only embolden Trump to continue attacking, suing and intimidating the media.”

Advertisement

Politics

Where Iran’s ballistic missiles can reach — and how close they are to the US

Published

on

Where Iran’s ballistic missiles can reach — and how close they are to the US

NEWYou can now listen to Fox News articles!

President Donald Trump warned that Iran is working to build missiles that could “soon reach the United States of America,” elevating concerns about a weapons program that already places U.S. forces across the Middle East within range.

Iran does not currently possess a missile capable of striking the U.S. homeland, officials say. But its existing ballistic missile arsenal can target major American military installations in the Gulf, and U.S. officials say the issue has emerged as a key sticking point in ongoing nuclear negotiations.

Here’s what Iran can hit now — and how close it is to reaching the U.S.

What Iran can hit right now

A map shows what is within range of ballistic missiles fired from Iran. (Fox News)

Advertisement

Iran is widely assessed by Western defense analysts to operate the largest ballistic missile force in the Middle East. Its arsenal consists primarily of short- and medium-range ballistic missiles with ranges of up to roughly 2,000 kilometers — about 1,200 miles.

That range places a broad network of U.S. military infrastructure across the Gulf within reach.

Among the installations inside that envelope:

IRAN SIGNALS NUCLEAR PROGRESS IN GENEVA AS TRUMP CALLS FOR FULL DISMANTLEMENT

  • Al Udeid Air Base in Qatar, forward headquarters for U.S. Central Command.
  • Naval Support Activity Bahrain, home to the U.S. 5th Fleet.
  • Camp Arifjan in Kuwait, a major Army logistics and command hub.
  • Ali Al Salem Air Base in Kuwait, used by U.S. Air Force units.
  • Prince Sultan Air Base in Saudi Arabia.
  • Al Dhafra Air Base in the United Arab Emirates.
  • Muwaffaq Salti Air Base in Jordan, which hosts U.S. aircraft.

U.S. forces have drawn down from some regional positions in recent months, including the transfer of Al Asad Air Base in Iraq back to Iraqi control earlier in 2026. But major Gulf installations remain within the range envelope of Iran’s current missile inventory.

Israel’s air defense targets Iranian missiles in the sky of Tel Aviv in Israel, June 16, 2025. (MATAN GOLAN/Middle East Images/AFP via Getty Images)

Advertisement

Multiple U.S. officials told Fox News that staffing at the Navy’s 5th Fleet headquarters in Bahrain has been reduced to “mission critical” levels amid heightened tensions. A separate U.S. official disputed that characterization, saying no ordered departure of personnel or dependents has been issued.

At the same time, the U.S. has surged significant naval and air assets into and around the region in recent days. 

The USS Abraham Lincoln Carrier Strike Group is operating in the Arabian Sea alongside multiple destroyers, while additional destroyers are positioned in the eastern Mediterranean, Red Sea and Persian Gulf. 

The USS Gerald R. Ford Carrier Strike Group is also headed toward the region. U.S. Air Force fighter aircraft — including F-15s, F-16s, F-35s and A-10s — are based across Jordan, Saudi Arabia and Bahrain, supported by aerial refueling tankers, early warning aircraft and surveillance platforms, according to a recent Fox News military briefing.

Iran has demonstrated its willingness to use ballistic missiles against U.S. targets before.

Advertisement

In January 2020, following the U.S. strike that killed Islamic Revolutionary Guard Corps Gen. Qassem Soleimani, Iran launched more than a dozen ballistic missiles at U.S. positions in Iraq. Dozens of American service members were later diagnosed with traumatic brain injuries.

That episode underscored the vulnerability of forward-deployed forces within reach of Iran’s missile arsenal.

 Can Iran reach Europe?

Most publicly known Iranian missile systems are assessed to have maximum ranges of around 2,000 kilometers. 

Depending on launch location, that could place parts of southeastern Europe — including Greece, Bulgaria and Romania — within potential reach. The U.S. has some 80,000 troops stationed across Europe, including in all three of these countries.

Iran is widely assessed by Western defense analysts to operate the largest ballistic missile force in the Middle East. (Majid Saeedi/Getty Images)

Advertisement

Reaching deeper into Europe would require longer-range systems than Iran has publicly demonstrated as operational.

Can Iran hit the US?

IRAN NEARS CHINA ANTI-SHIP SUPERSONIC MISSILE DEAL AS US CARRIERS MASS IN REGION: REPORT

Iran does not currently field an intercontinental ballistic missile (ICBM) capable of striking the U.S. homeland.

To reach the U.S. East Coast, a missile would need a range of roughly 10,000 kilometers — far beyond Iran’s known operational capability.

However, U.S. intelligence agencies have warned that Iran’s space launch vehicle program could provide the technological foundation for a future long-range missile.

Advertisement

In a recent threat overview, the Defense Intelligence Agency stated that Iran “has space launch vehicles it could use to develop a militarily-viable ICBM by 2035 should Tehran decide to pursue the capability.”

That assessment places any potential Iranian intercontinental missile capability roughly a decade away — and contingent on a political decision by Tehran.

U.S. officials and defense analysts have pointed in particular to Iran’s recent space launches, including rockets such as the Zuljanah, which use solid-fuel propulsion. Solid-fuel motors can be stored and launched more quickly than liquid-fueled rockets — a feature that is also important for military ballistic missiles.

Space launch vehicles and long-range ballistic missiles rely on similar multi-stage rocket technology. Analysts say advances in Iran’s space program could shorten the pathway to an intercontinental-range missile if Tehran chose to adapt that technology for military use.

For now, however, Iran has not deployed an operational ICBM, and the U.S. homeland remains outside the reach of its current ballistic missile arsenal.

Advertisement

US missile defenses — capable but finite

The U.S. relies on layered missile defense systems — including Terminal High Altitude Area Defense (THAAD), Patriot and ship-based interceptors — to protect forces and allies from ballistic missile threats across the Middle East.

These systems are technically capable, but interceptor inventories are finite.

During the June 2025 Iran-Israel missile exchange, U.S. forces reportedly fired more than 150 THAAD interceptors — roughly a quarter of the total the Pentagon had funded to date, according to defense analysts.

The economics also highlight the imbalance: open-source estimates suggest Iranian short-range ballistic missiles can cost in the low hundreds of thousands of dollars apiece, while advanced U.S. interceptors such as THAAD run roughly $12 million or more per missile.

Precise inventory levels are classified. But experts who track Pentagon procurement data warn that replenishing advanced interceptors can take years, meaning a prolonged, high-intensity missile exchange could strain stockpiles even if U.S. defenses remain effective.

Advertisement

Missile program complicates negotiations

The ballistic missile issue has also emerged as a key fault line in ongoing diplomatic efforts between Washington and Tehran.

Secretary of State Marco Rubio has said Iran’s refusal to negotiate limits on its ballistic missile program is “a big problem,” signaling that the administration views the arsenal as central to long-term regional security.

While current negotiations are focused primarily on Iran’s nuclear program and uranium enrichment activities, U.S. officials have argued that delivery systems — including ballistic missiles — cannot be separated from concerns about a potential nuclear weapon.

CLICK HERE TO DOWNLOAD THE FOX NEWS APP

Iranian officials, however, have insisted their missile program is defensive in nature and not subject to negotiation as part of nuclear-focused talks.

Advertisement

As diplomacy continues, the strategic reality remains clear: Iran cannot currently strike the U.S. homeland with a ballistic missile. But U.S. forces across the Middle East remain within range of Tehran’s existing arsenal — and future capabilities remain a subject of intelligence concern.

Related Article

Iran announces test of new naval air defense missile in Strait of Hormuz as US military buildup continues
Continue Reading

Politics

Contributor: The last shreds of our shared American culture are being politicized

Published

on

Contributor: The last shreds of our shared American culture are being politicized

At a time when so many forces seem to be dividing us as a nation, it is tragic that President Trump seeks to co-opt or destroy whatever remaining threads unite us.

I refer, of course, to the U.S. men’s Olympic hockey team winning gold: the kind of victory that normally causes Americans to forget their differences and instead focus on something wholesome, like chanting “USA” while mispronouncing the names of the European players we defeated before taking on Canada.

This should have been pure civic oxygen. Instead, we got video of Kash Patel pounding beers with the players — which is not illegal, but does make you wonder whether the head of the Federal Bureau of Investigation has a desk somewhere with neglected paperwork that might hold the answers to the D.B. Cooper mystery.

Then came the presidential phone call to the men’s team, during which Trump joked about having to invite the women’s team to the State of the Union, too, or risk impeachment — the sort of sexist humor that lands best if you’re a 79-year-old billionaire and not a 23-year-old athlete wondering whether C-SPAN is recording. (The U.S. women’s hockey team also brought home the gold this year, also after beating Canada. The White House invited the women to the State of the Union, and they declined.)

It’s hard to blame the players on the men’s team who were subjected to Trump’s joke. They didn’t invite this. They’re not Muhammad Ali taking a principled stand against Vietnam, or Tommie Smith and John Carlos raising fists for Black power at the Olympics in 1968, or even Colin Kaepernick protesting police brutality by kneeling during the national anthem. They’re just hockey bros who survived a brutal game and were suddenly confronted with two of the most powerful figures in the federal government — and a cooler full of beer.

Advertisement

When the FBI director wants to hang, you don’t say, “Sorry, sir, we have a team curfew.” And when the president calls, you definitely don’t say, “Can you hold? We’re trying to remain serious, bipartisan and chivalrous.” Under those circumstances, most agreeable young men would salute, smile and try to skate past it.

But symbolism matters. If the team becomes perceived as a partisan mascot, then the victory stops belonging to the country and starts belonging to a faction. That would be bad for everyone, including the team, because politics is the fastest way to turn something fun into something divisive.

And Trump’s meddling with the medal winners didn’t end after his call. It continued during Tuesday night’s State of the Union address, when Trump spent six minutes honoring the team, going so far as to announce that he would award the Presidential Medal of Freedom to goalie Connor Hellebuyck.

To be sure, presidents have always tried to bask in reflected glory. The main difference with Trump, as always, is scale. He doesn’t just associate himself with popular institutions; he absorbs them in the popular mind.

We’ve seen this dynamic play out with evangelical Christianity, law enforcement, the nation of Israel and various cultural symbols. Once something gets labeled as “Trump-adjacent,” millions of Americans are drawn to it. However, millions of other Americans recoil from it, which is not healthy for institutions that are supposed to serve everyone. (And what happens to those institutions when Trump is replaced by someone from the opposing party?)

Advertisement

Meanwhile, our culture keeps splitting into niche markets. Heck, this year’s Super Bowl necessitated two separate halftime shows to accommodate our divided political and cultural worldviews. In the past, this would have been deemed both unnecessary and logistically impossible.

But today, absent a common culture, entertainment companies micro-target via demographics. Many shows code either right or left — rural or urban. The success of the western drama “Yellowstone,” which spawned imitators such as “Ransom Canyon” on Netflix, demonstrates the success of appealing to MAGA-leaning viewers. Meanwhile, most “prestige” TV shows skew leftward. The same cultural divides now exist among comedians and musicians and in almost every aspect of American life.

None of this was caused by Trump — technology (cable news, the internet, the iPhone) made narrowcasting possible — but he weaponized it for politics. And whereas most modern politicians tried to build broad majorities the way broadcast TV once chased ratings — by offending as few people as possible — Trump came not to bring peace but division.

Now, unity isn’t automatically virtuous. North Korea is unified. So is a cult. Americans are supposed to disagree — it’s practically written into the Constitution. Disagreement is baked into our national identity like free speech and complaining about taxes.

But a functioning republic needs a few shared experiences that aren’t immediately sorted into red and blue bins. And when Olympic gold medals get drafted into the culture wars, that’s when you know we’re running out of common ground.

Advertisement

You might think conservatives — traditionally worried about social cohesion and anomie — would lament this erosion of a mainstream national identity. Instead, they keep supporting the political equivalent of a lawn mower aimed at the delicate fabric of our nation.

So here we are. The state of the union is divided. But how long can a house divided against itself stand?

We are, as they say, skating on thin ice.

Matt K. Lewis is the author of “Filthy Rich Politicians” and “Too Dumb to Fail.”

Advertisement
Continue Reading

Politics

Video: Hillary Clinton Denies Ever Meeting Jeffrey Epstein

Published

on

Video: Hillary Clinton Denies Ever Meeting Jeffrey Epstein

new video loaded: Hillary Clinton Denies Ever Meeting Jeffrey Epstein

transcript

transcript

Hillary Clinton Denies Ever Meeting Jeffrey Epstein

The former first lady, senator and secretary of state, Hillary Clinton, told congressional members in a closed-door deposition that she had no dealings with Jeffrey Epstein.

“I don’t know how many times I had to say I did not know Jeffrey Epstein. I never went to his island. I never went to his homes. I never went to his offices. So it’s on the record numerous times.” “This isn’t a partisan witch hunt. To my knowledge, the Clintons haven’t answered very many questions about everything.” “You’re sitting through an incredibly unserious clown show of a deposition, where members of Congress and the Republican Party are more concerned about getting their photo op of Secretary Clinton than actually getting to the truth and holding anyone accountable.” “What is not acceptable is Oversight Republicans breaking their own committee rules that they established with the secretary and her team.” “As we had agreed upon rules based on the fact that it was going to be a closed hearing at their demand, and one of the members violated that rule, which was very upsetting because it suggested that they might violate other of our agreements.”

Advertisement
The former first lady, senator and secretary of state, Hillary Clinton, told congressional members in a closed-door deposition that she had no dealings with Jeffrey Epstein.

By Jackeline Luna

February 26, 2026

Continue Reading

Trending