Can a Baby Boomer script writer capture the mindset and ever-evolving lingo of a teenage “Gossip Girl” or “Glee” club member?

Such questions were at the heart of a decade-long legal battle by 165 TV writers–all over age 40–who claimed that major television networks, studios and talent agencies, seeking to capture younger viewers, discriminated against the writers because of their age.

On Jan. 22, counsel for the plaintiffs and defendants announced a $70 million settlement of In re: TV Writers Cases. About $2.5 million will be used to establish a “fund for the future” that will offer grants and loans to aid older writers with their careers.

Defendants included networks ABC, CBS, NBC and Fox and most of the major Hollywood studios and big talent agencies. Talent agency International Creative Management settled with the plaintiffs previously, and a claim against Creative Artists Agency is still pending.

Lead plaintiffs counsel Paul Sprenger, a partner at Sprenger & Lang, urged class members in a statement to approve the settlement, which must still be approved by the Los Angeles County Superior Court.

Seth Pierce, a partner at Mitchell Silverberg & Knupp and liaison counsel for the defendants, asserted in a statement that they “would have prevailed at trial if necessary.”