In 2000, United, then called United News & Media, sold the franchises to Granada after it was told it could not merge with Carlton Communications unless Meridian was sold off. The condition was a deal breaker and the merger was called off, leaving the way open for Granada and Carlton to merge three years later.
The payout to United is believed to be over tax-related issues of the sale in 2000.
In a statement, United said it had "received a settlement payment of £32m from Granada in relation to outstanding items for the 2000 disposal".
Granada went on to merge with Carlton in the biggest media deal of the decade, costing £4.5bn.
The news comes as outgoing United chief executive Lord Hollick has announced he is to take on a managing director role at US private equity firm Kohlberg Kravis Roberts to target UK media, sparking rumours of possible takeover bid for ITV.
There were also reports earlier this week that United could sell off its NOP World market research business for £250m.
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