Morgan Stanley, Saban Settle Fee Dispute

Morgan Stanley, the second-largest U.S. securities firm, and Los Angeles billionaire Haim Saban settled a dispute over fees related to the $5.2-billion sale of Fox Family cable television network to Walt Disney Co.

Terms of the settlement were not disclosed. Morgan Stanley claimed in a 2002 suit that Saban owed it $12 million in fees.

Saban hired Morgan Stanley in October 2000 to advise him in the sale of his 49.5% stake in News Corp.’s Fox Family cable television network. Saban and his affiliates received $1.4 billion from the 2001 sale, and Morgan Stanley said it was entitled to get 0.75% plus expenses.