Paramount has offered $15 million to settle CBS lawsuit, WSJ reports

(Reuters) -A month into negotiations, Paramount Global has offered $15 million to settle U.S. President Donald Trump's lawsuit against CBS News, but the parties remain far apart on terms, the Wall Street Journal reported on Wednesday, citing people familiar with the situation.

Trump's team wants more than $25 million and is also seeking an apology from CBS News; it has also threatened CBS with another lawsuit related to alleged bias of its news coverage, the report added.

Paramount is expecting to nominate three new directors to its board in coming weeks, bringing the total to seven, while one current director plans to step down, as the company wants to make sure it has a full board in place in case the deal falls through, according to WSJ.

Reuters could not immediately confirm the report. Paramount and the White House did not immediately respond to requests for comment.

Trump filed a $10 billion lawsuit against CBS in October, alleging the network deceptively edited an interview with then-vice president and presidential candidate Kamala Harris to "tip the scales in favor of the Democratic Party" in the election. In an amended complaint filed in February, Trump bumped his claim for damages to $20 billion.

In April, Bill Owens, the long-time executive producer of "60 Minutes," said he was stepping down over concerns about editorial independence, in a story first reported by Reuters.

(Reporting by Yazhini MV in Bengaluru; Editing by Alan Barona)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Morning Bid: Earnings overload
• Exclusive-Syria tells US it is willing to drastically drop Russian oil imports, sources say
• French coastguards rescue 157 from burning migrant boat in English Channel