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

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

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.