News International and the family of Milly Dowler today announced they have reached a financial settlement. Per the agreement, News International will pay the Dowler family £2 million. In addition, News Corporation Chairman and CEO, Rupert Murdoch will personally donate £1 million to charities chosen by the Dowler family that represent causes close to Milly and those that provide support to other victims of crime.

The Dowler family commented: "Nothing that has been agreed will ever bring back Milly or undo the traumas of her disappearance and the horrendous murder trial earlier this year. The only way that a fitting tribute could be agreed was to ensure that a very substantial donation to charity was made in Milly's memory. We hope that projects will be undertaken so that some good can come from this."

Mr Murdoch commented: "When I met with the Dowlers in July, I expressed how deeply sorry I was for the hurt we had caused this family. The behaviour that the News of the World exhibited towards the Dowlers was abhorrent and I hope this donation underscores my regret for the company's role in this awful event. I also hope that through the personal donation something positive can be done in memory of their daughter."

The charities chosen by the Dowler family are as follows:

Shooting Star Chase

Child Victims of Crime

Suzy Lamplugh Trust

Hampton Pool Trust

Braintumouruk.org

Cancer Research