News Corp. to Settle Suit for $500 Million

News Corp. (NWS) said it agreed to pay $500 million to settle a lawsuit, days before the case was to go to trial.

The legal dispute started four years ago, when marketing firm Valassis Communications Inc. alleged that News Corp.’s News America Marketing, which sells coupon inserts in Sunday newspapers and in grocery-store displays, unfairly used its power with customers to gain advantages over competitors. News Corp. contested the claims.

A jury in a Michigan court last year awarded $300 million to Valassis in related litigation, and a similar case has been pending in California.

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