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Keith Olbermann, Current TV Reach Settlement: Olbermann Receives $5 Million From Termination Lawsuit

By Staff Writer | March 14, 2013 02:26 PM EDT

Keith Olbermann, Current TV Reach Settlement After His Firing And Lawsuit. Olbermann Receives $5 Million
(Photo : Wikimedia)

Keith Olbermann and Current TV have reached a settlement one year after Olbermann was fired by the network.

Olbermann responded with a $50 million lawsuit after his termination in 2012. Matthew Sheffield of Newsbusters.org calls the lawsuit “a classic example of a liberal-on-liberal fight.”

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In a statement sent Wednesday, both parties say that the terms of the settlement are confidential, the Associated Press reports.

However, the New York Post says that Keith Olbermann and attorneys representing the former owners of Current TV said the deal will give Olbermann a $5 million payout, or ten percent of the $50 million he demanded in his lawsuit.

Keith Olbermann was fired last March, as a host and executive at the progressive cable network. After his termination, Olbermann sued, claiming Current violated his agreement and engaged in shoddy production values. Current’s countersuit accused him of breaching contract, one of which is taking vacation without notice.

The at-times volatile host came to Current in June 2011 after an eight-year stint at MSNBC, where he hosted 'Countdown with Keith Olbermann'. He abruptly left the network on January 21, 2011.

Current, which was co-founded by former U.S. Vice President Al Gore, is now being acquired for $500 million by Al-Jazeera, which is owned by the government of Qatar.

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