Paramount Global opted to write a big check to President Donald Trump rather than fight what it had called a 'meritless' lawsuit.

Paramount Global has reached a settlement with Donald Trump in his lawsuit against CBS News, clearing a path for the media company’s long-delayed merger with Skydance Media. The settlement, announced near midnight Tuesday on the East Coast,

The money will go to Trump’s future presidential library, not to him directly, according to the agreement. Paramount will not apologize as part of the settlement.