Will CBS News’ independence survive the newly proposed Trump settlement?

The Trump-Paramount Global standoff drags on, with a mediator now proposing a $20 million settlement: $17 million for Trump’s presidential foundation, legal fees, and anti-semitism PSAs. Where does that leave David Ellison’s Skydance-Paramount merger? Kim Masters and Matt Belloni break down the latest twist in the battle between Trump and Shari Redstone.

Deal or no deal? The mediator’s proposal isn’t binding, but it carries weight as both sides inch toward a settlement. “Trump has actually come down a lot in his demands,” explains Belloni. “My understanding is that they are willing to settle, and it is the Paramount side that is really balking here. This board of directors is fearful that they will be sued or perhaps even investigated criminally for bribery if this is perceived as a bribe to get this Paramount-Skydance transaction.”

A Comp-licated situation? Paramount Global has hired a law firm to find settlement comparables from other Trump payouts to justify the number they may land on. “They're doing investigations here internally to try to come to a number that would give them at least a little bit of cover, and they're trying to get comps,” Belloni Notes. “Comps to what Disney paid to settle the ABC News case, which is $15 million plus a million dollars in legal fees and Meta. Meta paid about $25 million to settle claims from Trump. There's going to be lawsuits flying all over the place if this deal closes, but they want to insulate themselves the best they can, and finding comps in the Trump world is the goal.”

Sorry not sorry? With Trump reportedly softening on his apology demand, insiders are watching new backchannel conversations and wondering what future promises are being made. “What is David Ellison — when he goes off to these UFC tournaments — whispering to Trump (if anything) about this?” Masters asks. “Like, you know, ‘Don't worry. We're going to have a lot of conservative voices on CBS News?’ So I will say, if they manage to pull this off and get the deal done, there will be scrutiny going forward on CBS News to see whether the Skydance team is interfering with the independence of CBS News.”