Terms of the settlement announced in a joint statement Thursday were not disclosed.
The suit stemmed from Univision's decision last June to cancel plans to air Trump's pageants and its five-year contract with the
Trump had been asking for $500 million in damages from Univision in the suit filed in New York State Supreme Court. He said the company breached its contract with the Miss Universe pageant, of which he at the time owned a 49% stake, and called the act a politically motivated attempt to suppress the real estate mogul and former reality star's freedom of speech.
Since the suit was filed, Trump has sold the Miss Universe Organization to its current owner, William Morris Endeavor Entertainment. His controversial remarks also led to a split with pageant partner NBCUniversal, which sold its stake in the entity to Trump.
"I have known Univision's president and CEO, Randy Falco, for more than 20 years and I'm glad we are able to put these differences behind us," Trump said in a statement.
Falco stated: "I have known Donald Trump for many years in both a personal and professional capacity and we are pleased to settle this matter and move forward."