Live Nation Acquires Songkick Assets

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

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

The financial terms of the deal were not disclosed in the news release, but financial filings from Live Nation confirm the company is making a lump sum payment of $110 million to CERG, exclusive of the amounts paid to acquire the other assets.

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

Songkick's specialty was artist presales - selling large batches of tickets to fans in advance of a concert, often as much as 8% of the entire tickets for a particular show.

Songkick claimed that Live Nation had interfered with its business through blocking access to the presale tickets and demanding fees on sales of the tickets that Songkick had handled.

Last summer, 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. However, Live Nation and Complete Entertainment Resources Group, Inc (CERG), the entity formerly known as Songkick, have now announced that Live Nation has acquired certain assets from CERG, including CERG's ticketing platform, anti-scalping algorithm, API applications and patent portfolio.

Jones echoed the sentiment in the release and again thanked the many who helped contribute to Songkick's rise.

The lawsuit then took a new twist after Songkick filed an amended complaint accusing a former CrowdSurge employee, who went on to work for Ticketmaster, of hacking trade secrets.

Representatives from Live Nation and CERG had not provided additional comment at publication time.