STV pays ITV £18m to settle legal row

Scottish broadcaster STV has agreed an £18m settlement to end a long-running legal row with ITV.

The deal brings to an amicable close a complex string of legal claims between the two broadcasters, which have been locked in a battle since late 2009. STV has said it was in shareholders' "best interests" to agree to pay the out-of-court settlement.

The two firms have now ceased all legal action and "agreed the basis of a much more collaborative relationship for the future". ITV also welcomed the deal.