CBS' parent company will pay $16 million to President Trump over a “60 Minutes” episode aired last fall, during the closing weeks of the election

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.

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