By Paul Glynn
CBS, which is owned by Paramount, previously said the case was “completely without merit” and had asked a judge to dismiss it.
The settlement marks the latest concession by a US media company to a president who has targeted outlets over what he describes as false or misleading coverage.
According to the lawsuit filed in federal court in Texas, CBS aired two versions of the Harris interview in which she appeared to give different answers to the same question about the Israel-Gaza war.
Interviewer Bill Whitaker asked the Democratic nominee about the Biden administration’s relationship with Israel. The network later aired two different versions of her response, according to the claim.
One clip aired on Face the Nation and the other on 60 Minutes. Trump claimed Harris’s “word salad” answer had been deceptively edited in one version to shield her from backlash.
CBS said it edited Harris’s answer for time, in accordance with television news standards.
Trump sued, originally claiming for $10bn (拢8.5bn) but that figure was later increased to $20bn ($17bn) for damages.
In May this year, the company offered $15m (12.7m) to settle the suit but Trump wanted more than $25m (拢21m).
In a statement released on Tuesday, Paramount confirmed the settlement fee included the president’s legal fees, and that it had agreed that 60 Minutes will release transcripts of interviews with future presidential candidates.