Desmond brought the action against journalist Tom Bower. In his book 'Conrad and Lady Black: Dancing on the Edge', Bower wrote that Desmond had been "ground into the dust" after an article appeared in the Sunday Express which forecast the demise of Telegraph parent company Hollinger International.
Desmond said he brought the action against Bower because the story harmed his reputation as a tough businessman and made him look like a "wimp". It will cost him £1.25m in legal costs.
The case also highlighted concerns that Desmond tampered with the editorial integrity of his publications. The defence pointed out situations where negative stories were printed about individuals or companies with whom Desmond had fallen out.
As an example of this the jury heard a taped phone call between Desmond and an executive at hedge fund company Pentagon Capital Management. In it the Express owner told the executive he "could be the worst fucking enemy you'll ever have".
Three days later a libellous article appeared about the fund. Desmond later admitted, after legal action by Pentagon, that his comments "in the presence of Sunday Express journalists" may have prompted the article.
Bower's barrister described Desmond as a "malevolent" and "interfering" newspaper owner who would tell lies "at the drop of a hat". However, the Express owner has always denied meddling in editorial policy.
On hearing the jury's judgment Desmond defended his decision to take legal action against Bowers, claiming it was worth it "to set the record straight".
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