BPI attorney: Disney likely funding $177 million of settlement out of pocket

Walt Disney Co., parent of ABC News, is likely funding $177 million of its settlement with Beef Products Inc. in the processor’s libel and defamation suit against the network, while Disney’s insurers cover the remainder of the cost, a BPI attorney told Meatingplace in an emailed statement. South Dakota-based BPI sued ABC for $1.9 billion over its 2012 coverage of lean finely textured beef, including its use of the term “pink slime” to describe the product. Under South Dakota law, such a claim may be trebled. Terms of the settlement, reached in June, were not announced.