Trump says he received $16 million payment after Paramount lawsuit settlement

US President Donald Trump said CBS parent company Paramount paid $16 million on Tuesday as part of a lawsuit settlement.

This month, Paramount agreed to settle a lawsuit filed by Trump claiming that the CBS news program "60 Minutes" deceptively edited an interview with former Vice President Kamala Harris that the network broadcast in October.

Paramount needs approval from the Federal Communications Commission for its $8.4 billion merger with Skydance Media. The FCC did not make a decision by the 180-day informal deadline in mid-May and FCC Chair Brendan Carr has denied Trump's lawsuit was a factor.

Paramount declined to comment.

Trump and CBS formally agreed on Tuesday to the dismissal of his lawsuit, according to a court filing.

"We have just achieved a BIG AND IMPORTANT WIN in our Historic Lawsuit against 60 Minutes, CBS, and Paramount... Paramount/CBS/60 Minutes have today paid $16 Million Dollars in settlement, and we also anticipate receiving $20 Million Dollars more from the new Owners," Trump said in a post on Truth Social.

Skydance declined to comment on Trump's social media post.

Skydance and its investors plan to acquire National Amusements, which holds the family's controlling stake in Paramount. Skydance will subsequently be merged into Paramount, with its CEO, David Ellison, becoming Paramount's next chief executive.

The New York Post previously reported Ellison, son of billionaire Oracle co-founder Larry Ellison, agreed to run up to $20 million in public service announcements (PSAs) to promote causes supported by the president.

Following publication, Paramount issued a statement that its settlement with Trump "does not include PSAs or anything related to PSAs". Paramount also said it had no knowledge of any promises or commitments made to President Trump other than those put forth by the mediator.