Valassis, News Corp. Reach Settlement on Lawsuit
February 5, 2010
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NEW YORK—News Corp. announced it has settled with Livonia, MI-based Valassis Communications for $500 million in a lawsuit filed against the company’s News America Marketing (NAM) unit that was scheduled to go to trial in a Michigan federal court last Tuesday. The settlement also covers the $300 million Valassis was awarded in July in a Michigan circuit court that is currently on appeal and a pending state court case in California.
Under the terms of the settlement, NAM will also enter into a 10-year shared mail distribution agreement with Valassis Direct Mail, a Valassis subsidiary. In addition, the judge will issue a permanent injunction related to certain business practices at issue in the lawsuits.
Under the terms of the settlement, NAM will also enter into a 10-year shared mail distribution agreement with Valassis Direct Mail, a Valassis subsidiary. In addition, the judge will issue a permanent injunction related to certain business practices at issue in the lawsuits.
Companies Mentioned:
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