Film giant Paramount Global reached a settlement with U.S. President Donald Trump, who sued CBS News for $20 billion over editing of a 60 Minutes interview with his Democratic opponent, then-Vice President Kamala Harris.

Paramount has agreed to settle President Trump's lawsuit over a "60 Minutes" interview with Kamala Harris for $16 million, the company announced late Tuesday.

Paramount Global will pay $16 million to settle President Trump's lawsuit over 60 Minutes' interview with former Vice President Kamala Harris — a lawsuit that many legal experts considered spurious.