Market Chatter: Paramount Chair Questioned by Senators About Efforts to Settle Trump's CBS News Lawsuit

MT Newswires Live

20 May

Paramount Global's (PARA) efforts to settle President Donald Trump's lawsuit against its CBS News unit have caused several US senators to seek information about possible violations of a federal bribery statute in connection with Paramount's desire to complete a merger with Skydance Media, The Wall Street Journal reported Tuesday.

Senators Elizabeth Warren, Ron Wyden, and Bernie Sanders said in a letter to Paramount Chair Shari Redstone they are concerned the company "may be engaging in improper conduct" in exchange for the approval of its merger with Skydance Media, the news outlet reported. The lawsuit has become a potential roadblock to the merger, the Journal reported.

President Trump's $2 billion lawsuit against CBS News alleges an interview aired on "60 Minutes" with the former Vice President and 2024 Democratic presidential candidate Kamala Harris in October was deceptively edited to make her sound better. CBS has said the interview was neither doctored, nor deceitful.

A spokesperson for Redstone told the Journal she had not read the senators' letter and that she has recused herself from the settlement talks.

Paramount did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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