News Corp. to pay $500M settlement to Valassis

[Joanne98]

Source: AP


LIVONIA, Mich. (AP) -- News Corp. subsidiary News America Marketing has agreed to pay rival Valassis Communications Inc. $500 million to settle antitrust charges.

Valassis, a marketing company that provides direct mail and coupons, said the deal settles lawsuits it filed in several states against News America Marketing. Among them is a jury decision in Michigan circuit court last July that awarded Valassis $300 million in damages. News America was appealing that ruling.

Valassis accused News America of threatening customers with price hikes for not offering exclusivity in marketing deals.

Meanwhile, News America argued that Valassis tried to force higher marketing rates by publicly announcing price changes.


Read more: http://finance.yahoo.com/news/News-Corp-to-pay-500M-apf-1284685685.html?x=0&sec=topStories&pos=main&asset=&ccode=

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