News America Settles With Insignia Systems, Inc. for $125 Million; Parties Enter Into Exclusive 10-Year Business Agreement

Insignia Systems, Inc. ISIG announced today that it has reached an agreement to settle its outstanding lawsuit against News America Marketing In-Store, LLC (“NAM”). The settlement discussions were overseen by Judge John Tunheim and Magistrate Judge Arthur Boylan of the United States District Court, District of Minnesota. Insignia entered into a 10-year exclusive agreement with NAM to sell signs with price. Under the terms of the confidential settlement agreement, NAM will pay Insignia $125 million and Insignia will pay $4 million to NAM in relation to the business agreement. “I am pleased that we were able to reach a mutually agreeable settlement and avoid protracted litigation,” said Scott Drill, Insignia's President, Chief Executive Officer and Secretary.