The morning after Paramount International agreed to a $16 million payout to settle Donald Trump’s lawsuit towards CBS and 60 Minutes, co-CEO George Cheeks stepped as much as defend the transfer on the firm’s annual shareholder assembly.
In a quick Q&A, one stockholder requested what drove the corporate’s choice to settle.
“Sure, the corporate has agreed in precept to settle the lawsuit, and as reported, it doesn’t embody an apology,” mentioned Cheeks. “Now as to the why? Look, corporations typically settle litigation to keep away from the excessive and considerably unpredictable value of authorized protection, the danger of an adversarial judgment that would end in vital monetary in addition to reputational injury and the disruption to enterprise operations that extended authorized battles may cause,” he added.
The settlement “gives a negotiated decision that enables corporations to deal with their core aims reasonably than being mired in uncertainty and distraction, and we issued a press release final evening that displays the agreed phrases.”
Trump sued CBS Information and its guardian firm, Paramount, for $20 billion over the enhancing of the interview final fall with former Vice President Kamala Harris, Trump’s opponent within the presidential election.
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