Roger Yu

USA TODAY

Donald Trump and Univision said Thursday they have settled the lawsuit stemming from the Hispanic network’s decision to not broadcast the Miss Universe and Miss USA pageants last year.

Trump, a candidate for the Republican presidential nomination, sued Univision last June for $500 million after Univision dropped the beauty pageants – owned by Trump at the time -- following his disparaging remarks about Mexican immigrants.

Terms of the settlement weren't disclosed.

Trump sues Univision for dumping Miss USA telecast

“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 released by Univision.

The suit, filed in New York by his Miss Universe Organization, claimed that Univision's decision broke contractual terms and was "a politically motivated attempt to suppress Mr. Trump's freedom of speech under the First Amendment."

As Trump announced his candidacy in a press conference on June 16, he accused Mexico of "sending" immigrants who are criminals, drug dealers and "rapists."

In September, Trump sold the Miss Universe Organization to the talent agency WME-IMG for an undisclosed sum.