Del. judge approves News Corp lawsuit settlement

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Associated Press

Posted on June 26, 2013 at 2:01 PM

Updated Wednesday, Jun 26 at 2:02 PM

DOVER, Del. (AP) — A Delaware judge has approved a $139 million cash settlement between News Corp. and shareholders in a lawsuit over the British phone hacking scandal and the media conglomerate's purchase of an entertainment company run by News Corp. founder Rupert Murdoch's daughter.

Vice-Chancellor John Noble approved the settlement following a hearing Wednesday.

Attorneys said the cash settlement is the largest in a case of this sort, in which shareholders file suit on behalf of a company against corporate leaders. The agreement also includes several corporate governance reforms aimed at ensuring that News Corp. has a more independent and active board of directors.

News Corp. is based in New York but incorporated in Delaware.

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