DOVER, Del. — 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.