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Live Nation wins in legal fight with CTS Eventim

By | Published on Thursday 13 June 2013


Live Nation has won an arbitration ruling in a legal fight with European ticketing giant CTS Eventim. The legal squabbling relates to Live Nation’s merger with Ticketmaster in 2010, and the live major’s resulting termination of an agreement with Eventim, a rival of the ticketing company it had just acquired.

Live Nation argued that it legitimately ended its alliance with Eventim because the German company had failed to deliver on some of its contractual commitments. But Eventim argued Live Nation was in breach of contract, and took the matter to the International Court Of Arbitration of the International Chamber Of Commerce in April 2010.

It was thought that Eventim would pursue damages in excess of $200 million if successful at arbitration. But yesterday the arbitrator ruled in Live Nation’s favour, a decision that immediately resulted in a spike in the US-based live firm’s share price.

Welcoming the ruling, Live Nation chief Michael Rapino said: “The arbitrator’s final decision vindicates Live Nation’s steadfast position that we justifiably terminated our contract with CTS Eventim”.

Meanwhile Eventim said in a statement: “The management board of CTS Eventim AG is disappointed but will accept the ruling without further comments. It is important, after three years duration of proceedings, that Eventim is able to fully concentrate on its operational business again”.

As previously reported, it was Eventim which opposed the Live Nation and Ticketmaster merger in the UK, though ultimately it failed to block the consolidation of the two companies.