The mediator involved in President Donald Trump's lawsuit against Paramount and CBS News reportedly proposed a $20 million settlement to end the high-stakes legal battle.The Wall Street Journal reported Wednesday that Trump and Paramount's legal teams were presented with a proposal to end the president's $20 billion lawsuit with a $20 million settlement, according to sources familiar with the matter.The proposal, per the WSJ, would have Paramount making a $17 million donation to a Trump presidential foundation or museum and paying millions more in legal fees and public service announcements on Paramount-owned networks to combat antisemitism.CBS BLASTS TRUMP'S LAWSUIT AS MERITLESS DESPITE RECENT $15 MILLION SETTLEMENT OFFERLast month, Trump rejected Paramount's $15 million settlement offer as he sought at least a $25 million payout as well as an apology. According to the Wall Street Journal, Paramount "isnt prepared" to give one."President Trump is committed to holding those who traffic in fake news, hoaxes, and lies to account," Trump attorney Ed Paltzik told Fox News Digital in a statement. "CBS and Paramount targeted the President in an attempt to harm his reputation while committing the worst kind of election interference and fraud in the closing days of the most important presidential election in history. President Trump will pursue this vital matter to its just and rightful conclusion."Paramount did not immediately respond to Fox News Digital's request for comment.60 MINUTES PRODUCERS RAIL AGAINST TRUMP'S BULLS--- LAWSUIT, DREAD PROPSECTS OF PARAMOUNT MAKING SETTLEMENTLast October, Trump sued CBS News and Paramount for $10 billion over allegations of election interference involving the "60 Minutes" interview of then-Vice President Kamala Harris that aired weeks before the presidential election (the amount has since jumped to $20 billion).The lawsuit alleges CBS News deceitfully edited an exchange Harris had with "60 Minutes" correspondent Bill Whitaker, who asked her why Israeli Prime Minister Benjamin Netanyahu wasn't "listening" to the Biden administration. Harris was widely mockedfor the "word salad" answer that aired in a preview clip of the interview on "Face the Nation."However, when the same question aired during a primetime special on the network, Harris had a different, more concise response. Critics at the time accused CBS News of deceitfully editingHarris' "word salad" answerto shield the Democratic nominee from further backlash leading up to Election Day.'60 MINUTES' KAMALA HARRIS INTERVIEW AT THE CENTER OF TRUMP'S CBS LAWSUIT RECEIVES EMMY NOMINATIONThe raw transcript and footage released earlier this year by the FCC showed that both sets of Harris' comments came from the same response, but CBS News had aired only the first half of her response in the "Face the Nation" preview clip and aired the second half during the primetime special.CBS News has denied any wrongdoing and stands by the broadcast and its reporting.CLICK HERE TO GET THE FOX NEWS APPShari Redstone, Paramount's controlling shareholder who recused herself from settlement discussions in February, made clear that she wanted to settle Trump's lawsuit in hopes of clearing the pathway for Paramount's multibillion-dollar planned merger with Skydance Media, which needs approval from the Trump administration's FCC.However, there has been newsroom drama in recent months involving Redstone's efforts to "keep tabs" on the network's reporting of Trump, at least until the merger closes. That led to the abrupt resignations of "60 Minutes" executive producer Bill Owens, who claimed he could no longer maintain editorial independence, in April, and CBS News CEO Wendy McMahon in May.