Paramount settled a lawsuit filed by Donald Trump for $16 million, enabling the approval of its sale to Skydance. Trump's lawsuit against Paramount necessitated payment prior to the deal's alignment with regulatory approval from the Federal Communications Commission, led by a Trump supporter. This situation raises questions about potential future business dealings and the influence of political figures on corporate transactions. The forthcoming changes in leadership at Paramount could signal various pathways for the company's direction under Skydance's management.
If current owner Shari Redstone wanted to sell the company to Ellison, she would need to cut Trump a check. That happened on Tuesday, when Paramount's current management formally settled a lawsuit Trump filed against the company last year. They paid $16 million, most of which is ostensibly earmarked for Trump's future presidential library.
The deal got formal approval from the Federal Communications Commission, run by Brendan Carr, a Trump loyalist who sometimes wears a pin in the shape of Trump's head on his suit.
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