CBS News parent Paramount Global has agreed to pay $16 million to resolve an extraordinary lawsuit filed by President Donald Trump over a “60 Minutes” news report last fall.

The long-gestating and highly controversial settlement payment was announced by Paramount late Tuesday night.

Paramount said the $16 million sum “includes plaintiffs’ fees and costs,” and will not be paid to Trump directly, but instead will 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.

The announcement also said that “in the future, ‘60 Minutes’ will release transcripts of interviews with eligible U.S. presidential candidates after such interviews have aired, subject to redactions as required for legal or national security concerns.”

Legal experts maintained that Trump’s suit was frivolous and that CBS was on solid ground to fight and win the case in court.

But corporate priorities trumped journalistic principles. Paramount has been trying for months to complete a lucrative merger with Skydance Media, and the deal requires approval from the Trump administration, in part because CBS owns local stations that are licensed by the government.