Last year, thousands of interns filed a lawsuit against Condé Nast claiming they were underpaid while working at the publisher's magazines. Condé Nast has decided to settle the lawsuit for $5.8 million, which will be paid out to 7,500 former interns, according to Reuters

The lead plaintiffs in the lawsuit were a pair of interns who have previously settled with the company. The settlement will compensate former interns dating all the way back to June 2007 with payments ranging anywhere between $700 and $1,900​.

Chuck Townsend, an executive with Condé Nast, said in an internal e-mail that he still thought internships at the magazine "were among the best in the media business.” However, previous interns at Condé have described their experience as "one of the worst" they'd ever had. Either way, the company canceled its internship program shortly after this lawsuit was filed in June 2013. 

Earlier this year, 3,000 former Warner Music Group interns filed a lawsuit against the company for violating similar Fair Labor practices

[via Reuters]