Power Breakfast: Turner settles suit over teams’ sale, Fox Phantom, teacher layoffs, AirTran, auto report card

The long-running lawsuit over the sale of the Hawks and Thrashers has been settled.

Turner Broadcasting System withdrew a court appeal Monday opposing a $281 million verdict against it in a breach-of-contract lawsuit involving the 2003 sale of the Hawks and Thrashers, AJC staffer Peralte Paul reports.

Turner had previously vowed to fight what it called an “erroneous” and “excessive” judgment in which it was ordered to pay Texas car dealer David McDavid.

“In the interest of bringing this seven-year-long matter to a conclusion, we have chosen to resolve it through a settlement,” Turner spokeswoman Misty Skedgell said Monday. “Our focus has been and remains on the future of our business.”

As part of the deal, the settlement terms are not being disclosed, Paul writes.

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2 comments Add your comment

Chump Change

August 31st, 2010
8:43 am

$281 million? That’s nothing for this huge corporation. Just raises prices on everything to get all the money back.

Emory Texan class of '09

August 31st, 2010
11:34 am

$281M? Sounds like a mini stimulus for DFW. Thanks, TBS!