Trump Cashes Massive $15 Million Check from ABC After On-Air Slipup (Thanks, Stephanopoulos)

You know this has to hurt LOL. The Disney-owned ABC News just handed Donald Trump a nice ol $15 million check, and for some reason it feels straight out of an episode of The West Wing. Seriously, for a network that prides itself on delivering breakthrough news, they sure delivered a headline that nearly broke their bank.

(Source: Giphy) 

In short, ABC News and George Stephanopoulos (the same guy who’s been a morning staple since TRL was still a thing)--got themselves tangled up in a defamation lawsuit with Trump. The offending moment? Stephanopoulos went on-air and said, no fewer than 10 times, that Trump had been found “liable for rape” in the E. Jean Carroll case.

(Source: New York Times) 

Small problem though: the jury didn’t actually say “rape.” They said Trump was liable for “sexual abuse,” which, while still damning, has a legally distinct definition under New York law. Naturally, Trump’s lawyers pounced, filing a defamation suit faster than Trump could say you’re friggin’ fired. Whereas, according to Trump, this wasn’t just a slip of the tongue—it was bigly “false, intentional, malicious, and designed to cause harm.” 

(Source: Giphy) 

Fast forward to Saturday, and ABC News decided they’d rather not roll the dice in court. Instead, they coughed up $15 million, plus another cool mil to cover Trump’s attorney fees. Oh, and they had to throw in a public apology, which now lives at the bottom of the original article like the world’s most expensive footnote:

“ABC News and George Stephanopoulos regret statements regarding President Donald J. Trump made during an interview by George Stephanopoulos with Rep. Nancy Mace on ABC’s This Week on March 10, 2024.”

Translation: We are only sorry because you sued us. That's it. 

(Source: Fox News) 

Now in the grand scheme of things, let’s call this what it is: damage control. The settlement came just as a federal judge ordered both Trump and Stephanopoulos to sit for depositions. And let’s be real—nobody wanted to see that. Trump under oath is more volatile than Nvidia’s price action, and Stephanopoulos on the hot seat? Well, awkward doesn’t even begin to cover it.

Meaning, by settling, ABC News avoids a sh*t show of a trial, Trump dodges a potentially risky deposition (and by “risk” I mean the risk of Trump putting his own foot in his mouth), and most importantly, we’re all spared months of a real Law & Order dumpster fire. It’s a win-win-win. 

(Source: Giphy) 

Now if you’re thinking, “Wait, didn’t Trump just sue someone else?”, well, you’d be correct. This isn’t Donnie Politics’ first rodeo with the media.  Just last month, he slapped CBS with a $10 billion lawsuit (yes, with a b) over an interview with Kamala Harris. His lawyers claimed the network engaged in “election interference,” which presumably just means “we didn’t like what she said”. 

So yeah, with that suit, and the $15 million from ABC News, Trump just found himself a new side hustle—that pays. On the other hand, $15 million isn’t pocket change, even for Disney-owned ABC. That’s like, three Marvel sequels or half a year’s worth of Baby Yoda merch sales. But it’s still a solid move considering, the cost of a PR trial could be even more damning for ABC. 

(Source: Giphy) 

In the end, here we are, with Trump pocketing another win, ABC licking its wounds, and Stephanopoulos probably wishing he’d called in sick that day. Lesson learned: in the age of hyper-litigation, choose your words as carefully as you’d choose a Napster download in the early 2000s. Because whether it’s Metallica or a former president, someone’s always ready to sue.

In the meantime, enjoy the show my friends, because it’s only getting started. As always, stay safe and stay frosty, friends! Until next time…

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Stocks.News holds positions in Disney as mentioned in the article.