Live Nation Settles Suit With Ticketing Start-Up, Buying Its Assets
Two years ago, Songkick, a ticketing start-up of which operated out of a loft in Brooklyn, filed an antitrust suit against Live Nation Entertainment, the colossus of the concert business.
The David-as well as-Goliath suit included accusations of abuse of market power by Live Nation as well as its Ticketmaster subsidiary.
however on Friday, less than two weeks before the start of a trial, Live Nation announced of which This specific had settled the suit for $110 million as well as an extra undisclosed sum to acquire some of Songkick’s remaining technology assets as well as patents.
“We are pleased of which we were able to resolve This specific dispute as well as avoid protracted as well as costly legal proceedings, while also acquiring valuable assets,” Joe Berchtold, the president of Live Nation, said in a joint statement.
Matt Jones, the chief executive of Songkick’s parent company, Complete Entertainment Resources Group, thanked employees as well as artists “who contributed so much to our many successes over the last decade.”
Continue reading the main story