Paramount said Tuesday it would allocate $16 million to Trump's future presidential library and his legal fees and costs.

Paramount has agreed to pay $16 million to settle a lawsuit brought by President Donald Trump that had alleged an interview that aired on CBS’s “60 Minutes” last year with Kamala Harris, his Democratic opponent for the presidency, was deceptively edited.

CBS parent company Paramount on Wednesday settled a lawsuit filed by U.S. President Donald Trump over an interview broadcast in October, the latest concession by a media company to a president who has targeted outlets over what he describes as false or misleading coverage.