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

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.

The move comes as a striking concession in a case that has been seen as a threat to bedrock American principles of free speech.