12:03 PM EDT, 03/27/2024 (MT Newswires) -- Walt Disney's ( DIS ) proposed settlement agreement was unanimously approved by the board members of the Central Florida Tourism Oversight District in a meeting on Wednesday.

The agreement stipulates that the development agreement and restrictive covenants that were the subject of the state lawsuit are null and void, according to the board's counsel.

Additionally, Disney ( DIS ) also agreed to not contest the district's determination that the 2032 comprehensive plan and amendments to the land regulations in January 2023 are null and void.

Disney ( DIS ) and the district will also dismiss claims and counterclaims under the pending lawsuit with prejudice, the counsel added.

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