Los Angeles, California - CBS parent Paramount has agreed to pay $16 million to settle President Donald Trump's lawsuit over the contents of an interview with then Vice President Kamala Harris.

The settlement resolves Trump's $20 billion lawsuit against the network over its 60 Minutes interview with Harris during the 2024 presidential campaign.

The $16 million will go toward Trump's future presidential library rather than to him personally, according to a Paramount statement published by the Los Angeles Times Tuesday.

Paramount did not offer an apology or express regret as part of the settlement, but agreed to release transcripts of 60 Minutes interviews with future presidential candidates.

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Trump sued CBS late October claiming the 60 Minutes interview with Harris last year was edited to remove an embarrassing response.

CBS maintained the editing was standard practice.

Legal experts have argued the lawsuit is baseless, and would have been an easy legal victory for CBS if it ever went to court, per constitutional protections for freedom of the press.

Paramount nevertheless entered into mediation in a bid to placate Trump as it seeks to close an $8 billion merger with the entertainment company Skydance, which needs federal government approval.

Trump initially sought $10 billion in damages before amending the lawsuit to $20 billion.

The case prompted resignations at CBS News, with 60 Minutes executive producer Bill Owens leaving in April and CBS News chief executive Wendy McMahon departing in May.