The Wall Street Journal first reported the settlement of the suit brought against Meta and its chief executive Mark Zuckerberg, in what was seen as a victory for Trump.
Meta in the settlement will not admit wrongdoing over the suspensions of Trump’s accounts.
Trump had widely criticized social media platforms for suspending his accounts after the January 6, 2021 insurrection by his supporters, and comments he made that were seen as praising people engaged in the violence.
Zuckerberg has expressed support for Trump, and he has tweaked Meta’s policies to lift restrictions on some content within the company’s apps, which include Facebook, Instagram, Threads and WhatsApp.
The settlement is the latest bow by media corporations as they gird for a second Trump presidency.
Earlier Wednesday Meta reported its net income soared by 59 percent to $62.36 billion for the full year.
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