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Live Nation settles legal dispute with Cohl
By CMU Editorial | Published on Thursday 28 June 2012
This is no fun at all. Live music conglom Live Nation has settled its legal dispute with its former Chairman, American live music veteran Michael Cohl. And we were hoping for a long bitter trial.
As previously reported, Live Nation and Cohl began a legal battle in 2010 over the agreement the two parties had reached when Cohl was pushed out of his executive role at the live music major in 2008. In that agreement Cohl agreed to pay the live music firm nearly $10 million over a number of years in order to circumvent a non-compete clause in his previous contract with the firm, meaning that he could return to independently promoting tours with certain key artists, even though that would mean going into competition with his former employer.
In late 2010 Live Nation accused Cohl of defaulting on those payments, while a few months later Cohl countersued the live firm, saying they were in breach of contact for interfering in his negotiations to promote a Rolling Stones 50th anniversary tour (a tour, of course, which ultimately never happened).
But that legal battle is now at an end after Live Nation announced it had amicably resolved the dispute. The boss of Live Nation’s global touring division, Arthur Fogel, said yesterday: “We’ve had a long and fruitful history collaborating with Michael Cohl. We’re pleased that we’ve been able to resolve our differences, and can now get back to working together”.
Meanwhile Cohl added: “Live Nation has been a valued partner through the years, and I’m glad that we’ve been able to put this behind us and move forward”.
