Former Tory Party treasurer Lord McAlpine was not at London's High Court to hear solicitors for the BBC and ITV offer unreserved apologies for the damage and distress caused by the mis-reporting.
His lawyers confirmed that the agreements involved the payment of £185,000 damages by the BBC and £125,000 from ITV, together with very substantial costs.
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This was despite more than a fifth experiencing delays of more than three hours, a Which? survey revealed.
Michael Haines said he wanted to continue his brother's legacy so he would be remembered for his good work rather than his death.
Tomorrow should be a bit quieter in most places, with lighter winds and some lovely winter sunshine.