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.
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.
George Entwistle will receive a 12-month salary after stepping down from the BBC, he is also reported to be entitled to his full pension.
BBC director general George Entwistle has fallen on his sword following the Newsnight child abuse scandal.