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Billionaire media mogul and Sun Times owner Rupert Murdoch is suing fallen sports hero Lance Armstrong in order to recoup the nearly $500,000 libel settlement, plus interest, that was paid out in 2006.

The former LIVESTRONG executive and his legal team sued the Times for reprinting claims from a book that Armstrong had taken performance-enhancing drugs.

Murdoch’s legal team quietly launched a new suit last week seeking $1.6 million as compensation for a court decision that they now believe was unfair based on the recent findings of the U.S. Anti-Doping Agency.

The Sun Times stated in a letter to Armstrong’s lawyers: “It is clear that the proceedings were baseless and fraudulent. Your representations that you had never taken performance-enhancing drugs were deliberately false.”

In August Armstrong was stripped of his seven Tour de France titles and has been banned from competitive cycling for life.

He has not yet publicly acknowledged the new litigation.

Photos: WENN