As noted, a settlement of $16M is mice nuts, for all parties involved.
I suspect the real reason, was to attempt to discredit CBS publicly and sow mistrust for mainstream media that is not Trump-friendly and/or conservative-friendly. Which is pretty silly because anyone that is Trump-friendly already distrusts CBS, and anyone that is anti-Trump likely approves of CBS as much or more now, as a result.
Same thing possibly true in reverse for Newsome/Fox.