NEW YORK (Dow Jones/AP) — Vonage Holdings Corp. must pay $120 million to settle its patent dispute with Verizon Communications Inc. after a federal court on Thursday denied the Internet phone provider's request to rehear the case.

The U.S. Court of Appeals for the Federal Circuit said on its Web site that it had denied Vonage's request for an appeal. If Vonage had won a rehearing, the company would have been required to pay Verizon $80 million, under the terms of the settlement announced Oct. 25.

The $120 million total settlement consists of $117.5 million to Verizon and $2.5 million to charities.