Paramount insider shock over reported ‘side deal’ with Trump

High-level insiders at Paramount Global — the parent company of CBS News — tell Page Six there’s shock following reports that Skydance Media made their own deal with President Trump’s team as part of a settlement over Trump’s “60 Minutes” lawsuit against the media company.

Following news that Paramount settled with Trump for $16 million, Fox Business Network senior correspondent Charles Gasparino posted via X on Wednesday alleging that Skydance boss David Ellison — who’s behind a multibillion dollar merger with Paramount — additionally promised “to run public service announcements as part of the deal, which will bring the all-in settlement to close to $30 million.”

The report is causing turmoil over at Paramount, with a source telling us those with knowledge of the deal are shocked to hear there was any alleged backchanneling.

A source close to the situation tells Page Six that the $16 million was the only settlement sanctioned by an official mediator, and that Paramount knew nothing of an alleged deal between Trump and Ellison for the PSAs.

We hear there was disbelief inside the company when execs learned of the additional commitments alleged in the X post.

A source further claims that PSAs were never approved by the Paramount board, or sanctioned by the mediator.

The Post reported that PSAs were on the negotiating table back in May.

Paramount released a statement on Tuesday night saying: “Paramount will pay $16M in total, which includes plaintiffs’ fees and costs, and except for fees and costs, will be allocated to the future presidential library.”

As part of the deal, CBS is not acknowledging any journalistic wrongdoing with the settlement.

Ellison — whose studio has produced the Tom Cruise blockbusters “Top Gun: Maverick” and “Mission: Impossible – The Final Reckoning” — has been working on an $8 billion merger with Paramount.

Gasparino reported last month in The Post’s “On the Money” column that Trump regulators were stalling approval of the deal as they investigated whether CBS News violated Federal Communications Commission guidelines that its content must be free of political bias as part of his lawsuit.

Trump had accused the network of election interference over its editing of a “60 Minutes” interview last year with then-Vice President Kamala Harris. The president was initially seeking $20 billion in the suit.

Paramount’s controlling owner Shari Redstone will reportedly receive a nearly $2 billion payout if the merger between the media conglomerate and Skydance goes through.

There has already been plenty of unrest at the company over Trump’s lawsuit.

“60 Minutes” executive producer Bill Owens abruptly quit in April — citing a loss of journalistic independence. 

Shortly after, CBS News president and CEO Wendy McMahon — a close Owens ally — announced in May that she’d step down, telling staffers in a memo, “It’s become clear that the company and I do not agree on the path forward. It’s time for me to move on and for this organization to move forward with new leadership.”

A Paramount rep told Page Six in a statement: “Contrary to some news reports or media speculation, Paramount’s settlement with President Trump does not include PSAs or anything related to PSAs.  Paramount has no knowledge of any promises or commitments made to President Trump other than those set forth in the settlement proposed by the mediator and accepted by the parties. The material terms of the settlement agreement in principle are those disclosed by us yesterday.”

Skydance Media did not return a request for comment.