Shari Redstone’s Paramount secured an unconventional boost to finalize its contentious $16 million settlement with President Trump, paving the way for its anticipated sale to Skydance, according to The NY Post’s On The Money.
David Ellison, Skydance’s head and son of Trump ally and Oracle co-founder Larry Ellison, agreed to allocate $15 million to $20 million for public service ads promoting causes favored by Trump once he assumes control of Paramount’s CBS, part of Redstone’s struggling media conglomerate, a source familiar with the talks revealed.
“There’s an expectation of a mid-eight-figure commitment from the network for PSA ads and other broadcasts supporting conservative causes backed by President Trump,” the source noted.
Including the PSAs, the settlement’s total value exceeds $30 million. This unique arrangement, funded by Ellison rather than current Paramount management, allows Redstone and the board to avoid potential bribery allegations, a key obstacle in resolving the lawsuit.
“Paramount has no knowledge of any alleged Trump-Ellison side deal, was not involved in it, nor was it part of the board-approved, mediator-sanctioned settlement,” a spokesperson told On The Money.
A Skydance representative declined to comment.
On Tuesday, Paramount’s current leadership agreed to pay $16 million to settle Trump’s lawsuit, which claimed biased editing of a “60 Minutes” interview with Kamala Harris harmed his 2024 campaign.
As On The Money previously reported, David Ellison had confidently predicted a settlement, enabling his takeover of Paramount this summer.
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