According to CNN, CBS News parent Paramount Global has agreed to pay $16 million to resolve the lawsuit filed by President Donald Trump (The Apprentice) over the 60 Minutes news report that aired last fall. The payment for the lawsuit was just recently announced by Paramount late Tuesday night. Paramount stated that the sum of the lawsuit includes plaintiff’s fees and costs and will not be paid to the president directly. The amount will instead be allocated to Trump’s future presidential library — mirroring a settlement agreement that Disney’s ABC struck with Trump last December.

“The settlement does not include a statement of apology or regret,” Paramount specified via CNN.

As per CNN, the episode was still an embarrassment for CBS  because legal experts maintained that Trump’s suit was frivolous and that CBS was on solid ground to fight and win the case in court. “This is a very sad moment for ’60 Minutes,’ CBS News and journalism,” a CBS News staffer told CNN on condition of anonymity.

According to CNN, a spokesman representing Trump’s legal team celebrated the deal as a victory, even though Trump had claimed billions of dollars in damages, and wound up settling for a tiny fraction as much.

“With this record settlement, President Donald J. Trump delivers another win for the American people as he, once again, holds the Fake News media accountable for their wrongdoing and deceit,” the spokesman said via CNN. “CBS and Paramount Global realized the strength of this historic case and had no choice but to settle.”

As per CNN, Paramount has tried for months to complete a lucrative merger with Skydance Media, and the deal requires approval from the Trump administration due to CBS local stations that are licensed by the government. This gave the president leverage over Paramount, which may have put pressure on the company to settle the lawsuit. The Writers Guild of America East, which represents writers at 60 Minutes , said the settlement was a “transparent attempt to curry favors with an administration in the hopes it will allow Paramount Global and Skydance Media merger to be cleared for approval.”

Via CNN, Paramount said Tuesday night that “this lawsuit is completely separate from, and unrelated to, the Skydance transaction and the FCC approval process. We will abide by the legal process to defend our case.”

According to CNN, press advocacy groups, meanwhile, blasted Paramount for deciding to settle.“Paramount’s spineless decision to settle Trump’s patently unconstitutional lawsuit is an insult to the First Amendment and to the journalists and viewers of ’60 Minutes,’” the Freedom of the Press Foundation said. The group has vowed to file a shareholder’s derivative lawsuit over the settlement, meaning the litigation over the matter is not over yet.