The British arm of News Corp has increased the legal fund it will use to settle civil litigation cases brought by victims of phone hacking to £100 million ($155 million) from £20 million [$31 million], the Independent newspaper reported on Thursday.
Rupert Murdoch’s News International has earmarked the money to settle several high-profile cases, with some settlements expected to be well over £1 million [$1.55 million] apiece, said the newspaper, citing sources close to the situation.
A News International spokeswoman called the £100 million figure “purely speculative”.
News International has settled legal claims by a number of high profile public figures but is still negotiating a host of further claims after it admitted hacking the phones of celebrities, politicians and victims of crime.
Was this article valuable?
Here are more articles you may enjoy.
Hedge Funds Make Their Move as Litigation Finance Assets Slump 
Progressive Insurance Helps First-Time Homebuyers With Down Payments 
Worst Start to Wildfire Season Raises Alarm as El Niño Threatens 
In Florida Court, Sackler Family Member Admits Felony Tied to Her Opioid Addiction 
