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US: Ticketmaster parent settles suit with startup

By  |  January 14, 2018

In 2015, ticketing start-up Songkick filed an antitrust lawsuit against Live Nation Entertainment accusing Live Nation and its Ticketmaster subsidiary of of abuse of market power. On Friday, January 12, with less than two weeks before the start of the trial, Live Nation settled the suit in the amount of US$110 million.

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    Additionally, Live Nation is paying an undisclosed amount to acquire some of Songkick’s remaining technology assets and patents,

    In the summer of 2017, Songkick sold one of its main businesses, a concert-recommendation app, to the Warner Music Group—owned by one of Songkick’s major investors, Access Industries—and later shut down its remaining operations.

    Joe Berchtold, the president of Live Nation, said, “We are pleased that we were able to resolve this dispute and avoid protracted and costly legal proceedings, while also acquiring valuable assets.”

    Full Content: The New York Times

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