News Corp settles with Valassis for $500 million

NEW YORK (BestGrowthStock) – News Corp said it settled a lawsuit by Valassis Communications Inc for $500 million after deciding it may have difficulty presenting its case to a jury.

Valassis, a distributor of newspaper inserts, already won $300 million in damages in a lawsuit against News Corp subsidiary News America Marketing for engaging in unfair competition, and more trials were pending.

News Corp said on Saturday the settlement also covers the $300 million.

Stock Trading

(Reporting by Ritsuko Ando)

News Corp settles with Valassis for $500 million