(CNBC) — Ex-Playboy model Karen McDougal has been released from a $150,000 contract with tabloid publisher American Media, or AMI, that barred her from discussing an alleged affair with President Donald Trump.

"I am pleased to have reached a settlement with AMI on my own terms, which restores to me the rights to my life story and frees me from this contract that I was misled into signing nearly two years ago," McDougal said in a statement Wednesday.

"My goal from the beginning was to restore my rights and not to achieve any financial gain, and this settlement does exactly that."

Read the full story ›