Promoted. Originally posted 2010-01-30 19:54:46 -0500. -- GH
There is a story up on the AP at the moment which has News Corp agreeing to settle an anti-trust case with a company called Valassis for $500 Million.
Just to put this in perspective, payouts of this amount usually receive much more scrutiny:
Exxon Valdez : In the case of Baker v. Exxon, an Anchorage jury awarded $287 million for actual damages and $5 billion for punitive damages.
OK Tedi : A negotiated settlement worth approximately $500 million in compensation and commitments to tailings containment was reached in June 1996.
James Hardie: compensation worth up to $4 billion over the next 40 years
LIVONIA, Mich. (AP) -- News Corp. subsidiary News America Marketing has agreed to pay rival Valassis Communications Inc. $500 million to settle antitrust charges.
Valassis accused News America of threatening customers with price hikes for not offering exclusivity in marketing deals.
In a statement Saturday, News Corp. said it did not want to risk presenting the case to a jury in Michigan federal court, where it was scheduled for trial Tuesday. "it was in the best interests of the company and its stockholders to agree to a settlement."
The Exxon Valdez spill compensation claim was vigorously fought in court of law as well as in the public sphere, with the figure being reduced when the Bush administration was in office.
The OK Tedi disaster was a long term dumping of mining tailings filled with toxic metals, and cyanide contaminants into a river in Papua New Guinea.
The James Hardie payout was for continuing to market and manufacture asbestos building materials and fail to limit exposure to this product even when it was known of the effects on human health.
All of these, and I am sure there are many more, were played out in the press, in the media over and over. I know for a fact that News Corp would have headlined these three, if not many more in their newspapers day after day.