The announcement, at the company's annual meeting in Berlin, seemed to be aimed at placating restive shareholders.
Among those restive shareholders are members of the Chandler family, who control Times Mirror through a network of family trusts.
A number have increased dividends to appease restive shareholders.
After he took over, restive shareholders, encouraged by Mr. Icahn, forced the company to settle the case for $3 billion rather than appeal.
Union Bank is also battling Martin Ebner, a powerful and restive shareholder who wants to see the bank substantially increase its returns.
Faced with increasingly restive shareholders, he said, corporate leaders must cut costs to remain competitive in global markets - and that means lost jobs.
But Comcast can evidently count on little support from Disney's restive shareholders.
That may be, but Raymond Schoenbaum has found an audience among increasingly restive shareholders and franchise operators.
Walt Disney is doing it to appease its restive shareholders.
The settlement is the latest in a series of concessions made by large United States companies to their increasingly restive shareholders.