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, but traded in a narrow range throughout the day. Shares finished up by $3.65 at $24.58, with volume at a 6-month high. The stock broke out to a new high for the year.
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