Valassis, News America Marketing settle suits in $500M agreement

Share this article:

Media and marketing services company Valassis has agreed to settle its pending lawsuits against News Corp.-owned News America Marketing.

NAM will pay Valassis $500 million as part of the agreement, reached on January 30. The figure includes the $300 million Valassis was awarded in a Michigan circuit court in July 2009, which NAM had appealed, according to a statement from News Corp. NAM will also enter a 10-year shared mail distribution agreement with Valassis Direct Mail.

Valassis' lawsuits were pending in US District Court in Michigan and California. The settlement also includes the dismissal of NAM's defamation suit against Valassis.

News Corp. declined to comment beyond a press released issued on the day of the settlement. Valassis could not be reached for comment.

Share this article:

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Agency

Unleashing the True Power of the Customer

Unleashing the True Power of the Customer

Retailers who harness customer loyalty program data can create a customer-centric competitive advantage.

News Byte: Gartner Retail Expert Joins eCommera as CMO

News Byte: Gartner Retail Expert Joins eCommera as ...

Kevin Sterneckert brings a wealth of knowledge and experience to eCommera.

News Byte: SapientNitro Acquires Campfire; Will Go to Bat for Red Sox

News Byte: SapientNitro Acquires Campfire; Will Go to ...

The Sapient unit aims to up its storytelling acumen by teaming up with Campfire, something that will aid a new partnership with the Boston Red Sox.