Valassis Communications (VCI) announced Saturday that it reached an agreement to settle its outstanding lawsuits against News America Marketing, a division of News Corporation. News America Marketing will pay Valassis $500 million and will also enter into a 10-year shared mail distribution agreement with Valassis Direct Mail.
Valassis Communications gapped open sharply higher Monday and is currently up 3.46 at $24.39. The stock has risen above nearly a one-month range and has set a new high for the year.
For comments and feedback: editorial@rttnews.com