Report: Live Nation Settles Antitrust Lawsuit with Songkick, Buys Several Assets
Concert ticket behemoth Live Nation has acquired a numerous assets and patents from CERG, the technology company formerly known as Songkick. According to a new report from The New York Times, the acquisition is part of an antitrust settlement between the two companies, which was recently settled for $110 million.
“We are pleased that we were able to resolve this dispute and avoid protracted and costly legal proceedings, while also acquiring valuable assets,” Live Nation’s president Joe Berchtold shared in a statement with the Times. In a press release accompanying the settlement, Live Nation says it’s acquired CERG’s “ticketing commerce platform, anti-scalping algorithm, API applications, and patent portfolio” for an undisclosed amount.
Last November, Live Nation was sued by hundreds of victims of the Las Vegas Shooting with allegations of security negligence. In May, the company offered ticket refunds to concerts throughout the UK in the wake of the Manchester bombing. Read the New York Times’ full report here.