Live Nation Pays Out $110 Million To Songkick After 2-Year Court Battle

Live Nation/Ticketmaster and
Songkick have finally settled up after a
two-year long court battle — Songkick will receive
a $110 million payout in exchange for the company’s
remaining assets.



Let’s back up a bit to the origin of the lawsuit…

Songkick originally filed against Ticketmaster, claiming the
small start up had rights to ticket sales. With Live Nation’s
blocking of pre-sales and demanding fees, Songkick claimed the
large ticketing company was embracing anti-competitive
behavior.

Live Nation, on the other hand, counter-sued arguing that
venues had the right to sell through any medium they so
pleased.

Live Nation president Joe
Berchtold
 opened up on the settlement in a
statement to Billboard:

“We are pleased that we were able to resolve this dispute and
avoid protracted and costly legal proceedings, while also
acquiring valuable assets.”

The settlement’s end will gives some sort of closure to the
disagreement between Ticketmaster and the ticketing start up
Songkick. But which company really won here?

 

H/T: Billboard

Live Nation Pays Out $110 Million To Songkick After 2-Year Court Battle