LOS ANGELES, June 12 (Reuters) - Amazon.com Inc said on Friday it would pay $51 million to settle legal claims related to Toys R Us Inc's 2004 lawsuit that sought to terminate the retailers' strategic relationship.
Under the terms of the June 11 settlement agreement, Amazon will pay Toys R Us the $51 million within 45 days of the settlement date, which coincides with Amazon's third quarter.
Amazon said that substantially all of the one-time payment had been unanticipated and that it would be charged to 'other operating expense' in the second quarter.
The settlement also covered a related lawsuit that Amazon.com filed in 2006.
(Reporting by Lisa Baertlein; Editing by Ted Kerr)
((lisa.baertlein@thomsonreuters.com; +1 213 955 6742; Reuters Keywords: AMAZON TOYSRUS/
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Under the terms of the June 11 settlement agreement, Amazon will pay Toys R Us the $51 million within 45 days of the settlement date, which coincides with Amazon's third quarter.
Amazon said that substantially all of the one-time payment had been unanticipated and that it would be charged to 'other operating expense' in the second quarter.
The settlement also covered a related lawsuit that Amazon.com filed in 2006.
(Reporting by Lisa Baertlein; Editing by Ted Kerr)
((lisa.baertlein@thomsonreuters.com; +1 213 955 6742; Reuters Keywords: AMAZON TOYSRUS/
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.