ITV and Phillip Schofield have now reached agreement with Lord McAlpine to settle his libel claim, made in relation to the This Morning programme broadcast on 8 November 2012.
ITV and Phillip Schofield apologise unreservedly to Lord McAlpine, have agreed the terms of a statement to be made in open court, and have agreed to pay him damages of £125,000 and his legal costs.
He accepted £185,000 plus costs from the BBC last week over a Newsnight report, but the spokesman told the newspaper that ITV will have to pay more after This Morning host Phillip Schofield handed the Prime Minister a list of alleged abusers live on air.
The peer reportedly restricted the demand for compensation from the BBC because he was conscious that licence-payers’ money was involved, but the same does not apply to his action against ITV.
The spokesman said: “This was also done in broad daylight in a premeditated way in front of the Prime Minister.
"It was that programme that prompted Lord McAlpine to come out with his statement."
The Times reported that the broadcaster has been given until this afternoon to respond to a demand to pay damages.
Lawyers for Lord McAlpine are expected to take a tougher line over "principle tweeters" who mentioned false child abuse allegations about the Conservative peer on the social networking site, The Sunday Times (£) reported.
QI regular Alan Davies, a reporter for TV station Al Jazeera, a Guardian journalist, the Managing Director of a public relations company and a former barrister are among thousands of Twitter users who alluded to the allegations, according to the newspaper.
Lord McAlpine's lawyers have found 1,000 "original" tweets and an additional 9,000 "retweets" - in which an original message is forwarded on by another Twitter users - and said the case could involve the largest number of defendants in British legal history.
Mr Davies declined to comment on the story, the newspaper added.
The acting Director General of the BBC Tim Davie gave little away this morning about how the corporation's payout to Lord McAlpine was reached. But he told ITV News he believed it was a "good settlement".
Acting BBC Director General Tim Davie tells ITV News the £185,000 payout to Lord McAlpine is a "good settlement".
Lord McAlpine will receive a payment of £185,000 after a settlement was reached with the BBC over false claims made in a Newsnight report.Read the full story ›
Conservative MP Rob Wilson, who had written to Ofcom and to the BBC Trust over Newsnight's false reports, has told ITV News that the corporation's settlement with Lord McAlpine is an "expensive lesson" for the BBC and for the licence fee payer:
This is a very expensive lesson for the BBC that it must maintain the highest standards of journalism and fairness at all times.
The settlement is also expensive and particularly hard on the license fee payer.
Many license fee payers will be incensed that they are paying for a self-inflicted wound.
Unfortunately, a protracted court case may well have cost a great deal more.
The chairman of the Culture, Media and Sport committee, the Conservative MP John Whittingdale, has told ITV News he "shares Lord McAlpine's view that it is unfortunate that the licence fee payer has to pay out."
Lord McAlpine said:
I am delighted to have reached a quick and early settlement with the BBC.
I have been conscious that any settlement will be paid by the licence fee-payers, and have taken that into account in reaching agreement with the BBC.
We will now be continuing to seek settlements from other organisations that have published defamatory remarks and individuals who have used Twitter to defame me.
A BBC Spokesman said:
The BBC has agreed terms with Lord McAlpine to settle his claim of libel against the Corporation.
The settlement is comprehensive and reflects the gravity of the allegations that were wrongly made.