Live Nation Entertainment, Inc.
LYV reported today that it has prevailed in its arbitration against
Germany-based CTS Eventim AG, and that the arbitrator ruled that the company
validly terminated its ticketing software license agreement with CTS in June
2010, and therefore has no liability to CTS. The arbitration proceeding,
related to the former ticketing software license agreement between the two
companies, had been pending with the International Court of Arbitration of the
International Chamber of Commerce since its initiation by CTS in April 2010.
"We are very pleased with, but not surprised by, today's ruling. The
arbitrator's final decision vindicates Live Nation's steadfast position that
we justifiably terminated our contract with CTS," said Michael Rapino,
president and chief executive officer of Live Nation Entertainment.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in