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    Bernie Sanders urges Paramount not to ‘capitulate’ to Trump by settling 60 Minutes suit

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    The senator Bernie Sanders and his Democratic colleagues are urging Paramount Global not to settle Donald Trump’s $20bn lawsuit against 60 Minutes, saying such a decision would “capitulate to this dangerous move to authoritarianism”.In a letter co-signed by eight senators, Sanders urged controlling shareholder Shari Redstone and Paramount Global’s board to reconsider settling with Trump for as much as $75m to end his lawsuit against CBS News over its editing of last year’s 60 Minutes interview with Kamala Harris.Trump sued CBS News last November, alleging that the network’s interview with Harris during the 2024 presidential campaign was edited to frame her in a positive light and thus amounted to “election interference”.During the finalized interview, Harris was asked whether Benjamin Netanyahu listened to US advice. She replied of the Israeli prime minister: “We are not going to stop pursuing what is necessary for the United States – to be clear about where we stand on the need for this war to end.”An alternative edit shown in pre-broadcast promotions showed Harris delivering a longer response.In Trump’s court filing, his lawyers alleged that “CBS and other legacy media organizations have gone into overdrive to get Kamala elected”.In Tuesday’s letter, Sanders, alongside the Democratic senators including Dick Durbin, Sheldon Whitehouse, Richard Blumenthal, Peter Welch, Chris Murphy, Jeffrey Merkley, Elizabeth Warren and Edward Markey called Trump’s lawsuit “an attack on the United States Constitution and the First Amendment”.“It has absolutely no merit and it cannot stand,” they said, condemning Trump’s lawsuit as “a blatant attempt to intimidate the media and those who speak out against him”.The senators praised Paramount Global’s initial decision to file two motions to dismiss Trump’s case, which the company said “is without basis in law or fact”. However, the senators said that the company’s reported decision to settle with Trump is “unfortunately … a grave mistake”.“Rewarding Trump with tens of millions of dollars for filing this bogus lawsuit will not cause him to back down on his war against the media and a free press. It will only embolden him to shake down, extort and silence CBS and other media outlets that have the courage to report about issues that Trump may not like,” the senators wrote.“Stand up for freedom of the press and our democracy,” they added.Speaking to the Washington Post, a source familiar with the situation said that Redstone had recused herself from discussions about a potential settlement though she previously “shared her desire for some sort of resolution” with Paramount Global’s board.The senators’ letter comes as the Trump administration has escalated its attacks against US media, with the president denouncing CNN and MSNBC as “illegal” while ordering the US Agency for Global Media – the parent company of Voice of America – to be eliminated.Last week, Trump also signed an executive order seeking to cut public funding for National Public Radio and the Public Broadcasting Service. In response to Trump’s accusations of the outlets’ having leftwing bias, NPR and PBS have both said they are looking at legal options. More

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      A Sticking Point in Paramount and Skydance Talks: Who Pays For a Lawsuit?

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      A special committee of Paramount’s board of directors supports a merger with Skydance, a studio that has increased its offer in recent days. But the deal isn’t done yet.Paramount and Skydance have haggled for months over an ambitious merger that would usher in a new ruler of a sprawling media kingdom that includes CBS, MTV and the film studio behind “Top Gun.”The talks reached an even greater intensity in the past week, but at least one major sticking point has emerged between Shari Redstone, Paramount’s controlling shareholder, and Skydance. In the event that Paramount’s investors sue over the merger, which party is on the hook to defend the deal in court?National Amusements, the parent company of Paramount, wants Skydance to provide legal protection in the event of a lawsuit, warding off shareholders that may file objections to the merger, according to three people familiar with the matter. Skydance has not yet signed off on that deal term.Legal protection — also known as indemnification — is among the crucial outstanding terms in this deal, which has already been condemned by some Paramount shareholders who protested that it would enrich Ms. Redstone at the expense of other investors.The deal could still fall through. There are several outstanding issues in the negotiations between Skydance and Paramount, which have recently resumed talks. A special committee of Paramount’s board of directors supports a deal with Skydance. (Puck reported earlier that the special committee had greenlit the deal.)Another issue that has yet to be settled is whether Paramount will be given a “go-shop” period to see if it can get a superior offer to the Skydance deal or submit the deal to a shareholder vote, according to two people familiar with the matter. A shareholder vote and a “go-shop” period would protect Paramount and National Amusements from lawsuits, but it could prolong the deal-making process.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Sony and Apollo Take Key Step in Bid for Paramount’s Assets

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      The two companies have expressed interest in acquiring the media conglomerate, but are backing away from their $26 billion all-cash offer.Sony Pictures Entertainment and Apollo Global Management have taken a significant step forward in their effort to court Paramount, three people familiar with the matter said on Friday.The two companies have signed nondisclosure agreements with Paramount, allowing them to look at Paramount’s nonpublic financial information, said the people, who spoke on the condition of anonymity to discuss active negotiations. Paramount previously shared materials with another suitor, the Hollywood studio Skydance.Early this month, Sony and Apollo sent Paramount a nonbinding expression of interest in acquiring the company for $26 billion. The two had been seeking to buy Paramount for its studio and then sell off other parts of its empire, which includes CBS, cable channels like MTV and the Paramount Plus streaming service.But Sony’s shareholders have fretted over the possible acquisition, given the potential cost of a bid for Paramount and the headwinds facing the subscription streaming business. Sony and Apollo are now contemplating a variety of approaches to acquire the company’s assets, but are backing away from their plan to make an all-cash, $26 billion offer for Paramount, two of the people said.Sony’s new vision for a deal could alter the dynamics of Paramount’s effort to sell itself or merge with another company. Paramount previously rebuffed Sony’s offer to buy just its studio, and Paramount’s controlling shareholder, Shari Redstone, has long sought a deal for the entire company.A person familiar with Ms. Redstone’s thinking has said that a breakup of the company is not a deal breaker, depending on the terms, but that she prefers to keep Paramount intact.Ms. Redstone has blessed a deal to sell her stake in National Amusements, Paramount’s parent company, to Skydance, but Skydance’s bid for the entire company has faced significant pushback from Paramount’s common shareholders.Paramount let an exclusive negotiation window with Skydance lapse in recent weeks, but the two are still talking, and Skydance remains interested in a deal.The deal talks are happening at a tumultuous time for Paramount. The company’s chief executive, Bob Bakish, stepped down last month after more than a quarter-century at the company. He was replaced in the interim by three executives running an “office of the C.E.O.”: George Cheeks, the chief executive of CBS; Chris McCarthy, the chairman of Showtime and MTV Entertainment Studios; and Brian Robbins, the chief executive of Paramount Pictures. More