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News Corp settles Valassis case ahead of unfair competition trial
NEWS Corporation, the media group run by tycoon Rupert Murdoch, said it has settled a lawsuit by Valassis Communications Inc for $500m (£313.5m) after deciding it may have difficulty presenting its case to a jury.
Valassis, a distributor of newspaper inserts, has already won $300m in damages in a lawsuit against a News Corp subsidiary News for engaging in unfair competition, and more trials were pending.
News Corp said on Saturday the settlement also covers the $300m. “I am pleased that we were able to reach a mutually agreeable settlement and avoid protracted future litigation,” Valassis chairman and chief executive Alan Schultz.
As part of the settlement, Valassis will distribute some of News America’s marketing products.