News Corp. to Pay $4.7 Billion to Settle Dowler Family Hacking Allegations

News Corp.’s (NASDAQ:NWSA) U.K. newspaper unit has agreed to settle allegations that its News of the World tabloid hacked the phone of a murdered teenager in 2002 for about £3 million ($4.7 million). News International has agreed to pay roughly £2 million to the Dowler family, though they haven’t filed a lawsuit against the company, and about £1 million to a charity.

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This summer, allegations arose that in 2002, News of the World hacked the voice mails of a missing 13-year-old girl, Milly Dowler, leading investigators and her family to believe the girl was still alive and checking her messages when she had, in fact, been murdered. The scandal related to the Dowler girl resulted in News Corp. shutting down News of the World after 168 years of reporting, and also derailed the $12 billion acquisition of British Sky Broadcasting (PINK:BSYBY).

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