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Former Playboy Playmates Nikki Ziering and Karen McDougal (R). Photo: Paul Warner/Getty Images

The New York Times is reporting that former Playboy model Karen McDougal has reached a settlement agreement with American Media Inc. to let her out of a contract that silenced her from telling her story about an alleged affair she had with President Trump.

The details: The settlement gives American Media "the right to up to $75,000 of any future profits" her story generates, per the Times, adding that McDougal is allowed to keep the $150,000 payment she received. Her lawyer, Peter Stris, told the Times the settlement is a "total win."

Go deeper

Ben Geman, author of Generate
5 mins ago - Economy & Business

Tesla's wild rise and European plan

Tesla's market capitalization blew past $500 billion for the first time Tuesday.

Why it matters: It's just a number, but kind of a wild one. Consider, via CNN: "Tesla is now worth more than the combined market value of most of the world's major automakers: Toyota, Volkswagen, GM, Ford, Fiat Chrysler and its merger partner PSA Group."

Dave Lawler, author of World
47 mins ago - World

China's Xi Jinping congratulates Biden on election win

Photo: Paul J. Richards/AFP via Getty Images

Chinese President Xi Jinping sent a message to President-elect Biden on Wednesday to congratulate him on his election victory, according to the Xinhua state news agency.

Why it matters: China's foreign ministry offered Biden a belated, and tentative, congratulations on Nov. 13, but Xi had not personally acknowledged Biden's win. The leaders of Brazil, Mexico and Russia are among the very few leaders still declining to congratulate Biden.

Kendall Baker, author of Sports
2 hours ago - Sports

College basketball is back

Illustration: Sarah Grillo/Axios

A new season of college basketball begins Wednesday, and the goal is clear: March Madness must be played.

Why it matters: On March 12, 2020, the lights went out on college basketball, depriving teams like Baylor (who won our tournament simulation), Dayton, San Diego State and Florida State of perhaps their best chance to win a national championship.