00:01CBS parent company Paramount settled a lawsuit filed by US President Donald Trump on Wednesday.
00:08It was over an interview broadcast in October and marked the latest concession by a media company to Trump.
00:16The president has targeted outlets over what he describes as false or misleading coverage.
00:22Paramount said it would pay $16 million to settle the suit.
00:26It said the money will be allocated to Trump's future presidential library and not paid to him directly or indirectly.
00:33The company further added the settlement does not include a statement of apology or regret.
00:39Trump filed a $10 billion lawsuit against CBS in October.
00:43He alleged the network deceptively edited an interview that aired on its 60 Minutes news programme.
00:50The discussion was with then Vice President and presidential candidate Kamala Harris.
00:55Trump argued it aimed to tip the scales in favour of the Democratic Party in the election.
01:01He bumped his claim for damages to $20 billion in an amended complaint filed in February.
01:07CBS aired two versions of the Harris interview where she appeared to give different answers to the same question about the Israel-Hamas war.
01:15That's according to the lawsuit filed in federal court in Texas.
01:20CBS previously said the lawsuit was completely without merit and had asked a judge to dismiss the case.
01:26The White House did not immediately respond to a Reuters request for comment.
01:30Media advocacy groups said Trump's novel use of such laws against news outlets could be a way of circumventing legal protections for the press.
01:38They can only be held liable for defamation against public figures if they say something they knew or should have known was false.
01:46The settlement comes as Paramount prepares for an $8.4 billion merger with Skydance Media.
01:52A move that will require approval from the US Federal Communications Commission.
01:57The Paramount settlement also follows a decision by Walt Disney owned ABC News to settle a defamation case brought by Trump.
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