Transcript for Ex-Trump lawyer recorded one of their private talks: Sources

stories as we come on the air. The majtorm warnings, that deadly lake tragedy, but W do begin with the dnt evolving T president. Attorney secretly red a conversation with the president just twoths before the action. Sours tonight say Michael Cohen rect conversation with then-candidate dal trump, a conversation about a payment involving the owner of "Theat enquirer," and mer model, Karen mcdougaliming she had an affair with thepresidt. Cohen's attorney now sayinen the recording is het not hurt Michael Cohen. Any attempt atpinannot change what's othe tape. ABC's phillips,n the se. Reporter: Sources say it came as a Surpris tnt mself. Word his former lawyer and fixer Michael Cohen had secretly recorded one oeir face-to-face private erst two month before the election. And former "Pla model Karen Mcdougal who cs she had an affair with the billionair years before. Treal feelings between the two of us. Not just myself. Just him. There was a real relationship there. Reporter: Just weekrethat secrey recorded conversation, Mcdougal sold her story R $150,000 to the publisher of "The national enquirer," American a, inc. Which is by the president's close friend, David peck. Pecker'spany appartly bought Mcdougal's story in order to bury ita practice known as catch-and-kill. In that recordedrsation, and Cohen disca plan for them to buy the rights to the Stor Ami, also for about $150,000. Sources familiar with the tape saump can beeard telling Cohen make sureny payment is propedocumentedn order have a rerdit. But sources say the payment never happened. The recording wasiscoveredy FBI when they raided N's home, office and hotel B I April. He is under investigation for poial campai face violations, for allegedly arranging hush money pays to women cle had sexual relationships with trump. I will do anything to protect Mr. Trump. Reporter: Cohen once said he would take a bullet for his number one clien I'm obviously very loyal and very dedicated to Mr. Trump. Former fix would never turn against him. Jknow if you're worriehe's gonna cooperate with federal investigators no I'm not worried because I dinowrong. Got it. Repor but now, under increasing pressure from federal prosecutors, sourcell us N is likelto cut a DL. He recently told George Stephanopoulos, "Mye, my daughter, my son ha my first loyalty and always will. I put fa a first." Tonight, the president's law says he's not worried that secretly recorded conversation, and cohen'attorney ting, "Whethe recording is heard, it wit hurt Michael Cohen. Any attempt at spin cannot change what is on the All right.so L's bring in ka Phillips at the desk tonight. Thedy people to ask almostmediately, was this the only conven thatha he recorded? Reporter: Right sources telling us this is the only record of trump that was seized in thatd,ut asou a lot of recordings with a lot of enle, and the FBI has all those records as well. They have those conversations. Kyra Phillips covering thecohen part of this Stor Kyra thank you. We E following a major

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