April 29 (Reuters) - The board of Paramount Global ( PARAA )

, the parent company of CBS News, outlined acceptable

financial terms for a potential settlement with U.S. President

Donald Trump on his "60 Minutes" lawsuit, The New York Times

reported on Tuesday, citing three people with knowledge of the

internal discussions.

Shari Redstone, the board's non-executive chair and

Paramount's controlling shareholder, recused herself from the

portion of the meeting in which board members discussed a

settlement, one source who requested anonymity told Reuters.

The exact dollar amounts remain unclear, but the board's

move paves the way for an out-of-court resolution, the New York

Times said.

Paramount and a spokesperson for Redstone could not

immediately be reached by Reuters for comment.

Trump filed a $10 billion lawsuit against CBS in

October, alleging the network deceptively edited an interview

with then-vice president and presidential candidate Kamala

Harris to "tip the scales in favor of the Democratic Party" in

the November election.

In an amended complaint filed in February, Trump increased

his claim for damages to $20 billion. The parties are set to

begin mediation on Wednesday, the New York Times reported.

Bill Owens, the long-time executive producer of "60

Minutes," earlier this month said he was stepping down over

concerns about editorial independence, in a story first

reported

by Reuters