Shari Redstone, a longtime media executive behind CBS and Paramount Global, has finalized a $16 million settlement deal with President Donald Trump over an edited “60 Minutes” interview last year. The agreement paved the way for a blockbuster merger between Paramount Global and Skydance Media, which was approved by the Federal Communications Commission (FCC). Redstone, who controlled more than three-quarters of Paramount’s Class A voting shares, will now exit the newly formed company.
The deal has been criticized as a “bribe” to secure FCC approval. However, Redstone expressed satisfaction with the agreement, saying she was “blown away” by its terms. The settlement prevented CBS from issuing an apology or admission of wrongdoing related to the interview.
Redstone’s decision to settle the lawsuit was influenced by the high costs and risks of litigation. She believed it was in Paramount’s best interest to reach a deal, even if some critics view it as a contentious agreement. Redstone will now recoup her share from the merger proceeds.
Source: https://www.foxnews.com/media/shari-redstone-breaks-silence-no-brainer-16m-trump-settlement-preceded-paramount-skydance-merger