ABC News made an historically large payout to settle a defamation lawsuit earlier this summer, according to a new financial release from the network's parent company Disney and an attorney for the plaintiff.
In a footnote on the company's quarterly earnings report on Tuesday, Disney said it paid $177 million that was "incurred in connection with the settlement of litigation," at least some of which was related to a years-long legal dispute with South Dakota-based meat processor Beef Products Inc.
Disney has not specified exactly what it spent the $177 million on — some of it may represent money that went to legal costs and other related items, as well as other legal disputes — but a lawyer for BPI told CNNMoney that its settlement was worth even more than $177 million.
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