President Donald Trump’s latest media legal battle came to a head on Tuesday night.
Paramount Global, the parent company of CBS, reportedly agreed to the terms of a settlement with the Trump administration over claims that 60 Minutes, its flagship news magazine show, selectively edited an interview with then-Democratic presidential nominee Kamala Harris in a manner that amounted to election interference.
While the lawsuit was repeatedly dismissed by legal experts as having no legitimate standing, its existence created a hurdle for Paramount to clear as it seeks regulatory approval for an impending merger with Skydance Media worth more than $8 billion.
In the end, Paramount controlling shareholder Shari Redstone opted to settle the case for $16 million, clearing a path for the company’s sale.
A Skydance-controlled Paramount could potentially be an active player in live sports acquisition. The David Ellison-backed firm will come in with plenty of capital, and may want to make a splash by buying up sports rights, according to prior reports. CBS currently owns a package of Sunday afternoon NFL games, part of the NCAA Men’s Basketball Tournament, a significant number of golf tournaments including The Masters, and a package of Big Ten football and basketball games.
Of course, even though a settlement has been reached, the FCC still must approve the deal. In a statement, Paramount emphasized that the settlement was “completely separate from, and unrelated to, the Skydance transaction and the FCC approval process.” Throughout the legal proceedings, FCC chairman Brendan Carr has also suggested that the two are completely separate.
Regardless, if the settlement does open the door for regulatory approval like many industry observers suggest, new corporate backing could change how CBS Sports operates.
