Kate and Gerry McCann have accepted £550,000 in damages and a high court apology today over "utterly false and defamatory" stories published by Richard Desmond's Express Newspapers about the disappearance of their daughter, Madeleine.
The McCanns' solicitor, Adam Tudor of law firm Carter-Ruck, told the high court today that the money would be donated to the fund established to find Madeleine. The McCanns were not present at the high court.
The McCanns' spokesman, Clarence Mitchell, confirmed the £550,000 figure paid in damages outside court today.
Mitchell also read out a statement on behalf of the McCanns, who welcomed the apology and damages payment from Express Newspapers and said its papers' coverage had been a "distraction" from finding their daughter Madeleine.
The couple added that it was "entirely appropriate that the search for Madeleine will now benefit directly out of the wrongs committed against us as her parents".
"We hope that the Portuguese authorities lift our aguido status in the very near future so that everyone can focus on finding our beautiful girl Madeleine," the McCanns said.
"We are pleased that Express Newspapers have today admitted the utter falsity of the numerous grotesque and grossly defamatory allegations that their titles published about us on a sustained basis over many months.
"The exceptional publication of these apologies, together with today's statement of full apology in open court before Mr Justice Eady, was the only just and proper response by Express Newspapers following our complaint.
"Express Newspapers rightly acknowledge that we are innocent of all allegations that we may have been involved in Madeleine's abduction and we would like to reiterate that there is absolutely no evidence that Madeleine is dead or has been seriously harmed."
Tudor said that from the late summer of last year until February this year Express Newspapers titles the Daily Express, the Sunday Express, the Daily Star and the Daily Star Sunday published more than 100 articles which were seriously defamatory to the couple.
"The general theme of the articles was to suggest that Mr and Mrs McCann were responsible for the death of Madeleine or that there were strong or reasonable grounds for so suspecting and that they had then disposed of her body," he added.
"And that they had then conspired to cover up their actions, including by creating 'diversions' to divert the police's attention away from evidence which would expose their guilt."
Tudor said that "many" of the articles were published on the front pages of the newspapers and on their websites and included "sensational" headlines.
Additional examples were given including stories that Madeleine had been "sold" to ease financial burdens and that the McCanns were involved in "swinging" or "wife-swapping orgies".
"As the defendant now acknowledges, all of these allegations were, and remain, entirely untrue," Tudor told the court.
"In particular, there is no evidence whatsoever to suggest that Mr and Mrs McCann were responsible for the death of their daughter or that they were involved in any sort of cover-up, and there was no basis for Express Newspapers to allege otherwise.
"Equally, the allegations that Mr and Mrs McCann may have 'sold' Madeleine, and that they are involved in 'swinging' or wife swapping were entirely baseless.
"Naturally, the repeated publication of these utterly false and defamatory allegations has caused untold distress to Mr and Mrs McCann.
"Indeed, it is difficult to conceive of a more serious allegation than to be falsely accused of being responsible for the death of their own daughter."
The counsel for Express Newspapers, Stephen Bacon, told the court: "Express Newspapers regrets publishing these extremely serious, yet baseless, allegations concerning Mr and Mrs McCann over a sustained period of what will already have been an enormously distressing time for them, and at a time when they have been trying to focus on finding their daughter.
"As an expression of its regret, Express Newspapers has agreed to publish front page apologies, acknowledging the falsity of the allegations and reflecting the fact that they should never have been made.
"Through me, Express Newspapers wholeheartedly repeats that apology before the court today. They profoundly regret the distress which these publications will have caused to Mr and Mrs McCann."
Mitchell, speaking on the steps of the high court today, added that the couple had been subject to a "sustained run of defamation" from Express Newspapers' daily titles the Daily Express and Daily Star.
"We felt that of all of the press they had the worst track record," Mitchell added.
Tudor, also speaking outside the high court, widened the criticism, saying all newspapers should take a "long, hard look at themselves" over the reporting of Madeleine's disappearance.
He added the couple's future legal options were being kept constantly under review, suggesting that action against other newspapers has not been ruled out.
As well as paying £550,000 damages, Express Newspapers agreed to pay the McCanns' "reasonable legal costs", although no figure was put on this.