Barbara Broccoli, the producer of the James Bond movies, on Wednesday accepted substantial undisclosed libel damages from the Daily Mail and Mail on Sunday over false claims that she misused public funds.
Broccoli, who is working on the 23rd Bond film, brought libel proceedings in London's high court over articles in the two Associated Newspapers titles last August.
Her solicitor, Michael Skrein, told Mr Justice Tugendhat in the high court that they were "deeply upsetting" and harmful to her reputation.
Skrein said Broccoli was chair of the board of directors of First Light, a registered charity enabling young people, including those who were disadvantaged and disabled, to create digital film and media projects.
The articles suggested, as a board member of the UK Film Council, she had improperly awarded herself or First Light a huge grant of public money.
However, Broccoli did not have any financial or ownership interest in First Light, which Associated now accepted.
"She is chair of this registered charity, and she donates money to it. She has accepted neither remuneration nor expenses from it," Skrein said.
"So, she did not award herself or her own company any grant whilst a board member of the UK Film Council; and she has not misused any public funds."
He added that Associated had made clear that it had no intention to accuse Broccoli of any wrongdoing and had made an offer of amends – which involved payment of substantial damages, which she intended to pass to First Light, and her legal costs, and the publication of apologies.
Broccoli, the daughter of the late Cubby Broccoli, the producer who launched the Bond film franchise in the 1960s, said in a statement afterwards that it was "very important" for her to get a correction.
"I am very committed to my work with the charity, First Light, and am delighted that all of these damages will assist in funding film-making projects for kids from all backgrounds across the country."
• To contact the MediaGuardian news desk email editor@mediatheguardian.com or phone 020 3353 3857. For all other inquiries please call the main Guardian switchboard on 020 3353 2000. If you are writing a comment for publication, please mark clearly "for publication".
• To get the latest media news to your desktop or mobile, follow MediaGuardian on Twitter and Facebook
