Noel Lee, of the video and audio cable company Monster, claimed Dr Dre and Iovine had arranged a sham deal with another company to terminate their arrangement with him.
The News Corporation management and standards committee met on Wednesday morning and decided to terminate the arrangement.
"Assuming the trend line continues, both in visitors and in increased revenue," Mr. Spitzer said, "we can imagine that we would be able to terminate the arrangement to monitor their financing".
It said in a statement: "News Corporation's management and standards committee met this morning and has decided to terminate the arrangement to pay the legal fees of Glenn Mulcaire with immediate effect.
One year ago, the regents of the University of Texas System voted unanimously to terminate the arrangement by 2015 or sooner, citing a lack of responsiveness from the community college board, which did not fight the decision.
However, the reality of the situation in a franchise business context will be that the franchisor will want to terminate the arrangement as quickly as possible so as to minimise damage to the franchise network and to protect the brand and the IP.
Although it may sound no better than an U.T.M.A. account in that respect, lawyers have developed a way to work around that: they give the child a window of time — usually 30 or 60 days — to terminate the arrangement, and if the beneficiary doesn't end it at 21 the trust continues for a predetermined number of years.
That, coupled with exercise of one's discretion, is sufficient reason to terminate the arrangement.
It's a complicated deal, and renters should be careful about the terms of their contract, especially elements that allow the seller to terminate the arrangement, such as maintenance of the property, payment times or individual clauses.
If a driver refuses to accept lower pay, the company in theory can terminate the arrangement.
