Keith Olbermann Settles With Current TV Over $50 Million Lawsuit

Former MSNBC, Current TV news reader Keith Olbermann has settled his $50 million dollar lawsuit with Current TV.

The lawsuit stems from Olbermann's firing from the Al Gore-helmed network (which was recently sold to Qatar-based Al-Jazeera and will become Al-Jazeera America) last year. Olbermann sued for breach of contract, claiming that the progressive network owed him up to $70 million according to the terms of their deal. Current TV countersued claiming that Olbermann's suit was "riddled with falsehoods and distortions" before dropping this zinger of a paragraph:

"He arrogantly and falsely calls "cheap" the company that has paid him the highest compensation he had ever received in his career, provided him the largest staff of any program he had ever anchored, given him the largest studio and custom-designed set on which he had ever worked, and paid over $50,000 in an eight month period to eight different limousine companies because none of the previous seven were able to meet his Patrician standards for how to drive him around New York City."

In the wake of the network's $500 million sale, Current TV settled out of court with Olbermann. Specifics of the settlement have not been disclosed however Deadline reports that Olbermann will receive "a significant payout from Current."

Olbermann who has now gone through two embarrassingly public ousters may well end up at the network where he made a name for himself, Connecticut's own ESPN. The New York Times' spotted Olbermann and ESPN president John Skipper having dinner. It may have been a friendly meeting or it may lead to Olbermann relinquishing the anchor chair at the Disney-owned television network.

Skipper denies the idea, saying that there are no open positions for Olbermann to fill.

When somebody leaves, somebody else fills their place," Skipper said.

What do you think? Did Olbermann deserve this some? Do you like Olbermann as a newscaster?

Sound off in the comments.