News Corp settles with Valassis for $500 million
NEW YORK (Reuters) - 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.
(Reporting by Ritsuko Ando)