Key said today he now accepts that freelance cameraman Bradley Ambrose didn't deliberately record a private conversation Key had with political ally John Banks days before 2011 national elections.
Key said the amount of the settlement was confidential. The prime minister had invited media to a staged event with Banks before asking journalists to leave so the men could talk in private.
Ambrose said he inadvertently recorded the men after leaving a microphone on. At the time, Key said Ambrose acted deliberately and questioned his ethics. Key said he now accepts that Ambrose did not do that or otherwise behave improperly.