Quietly resolved prior to spinoff of Live Nation.
The high-profile case between Clear Channel Communications and JamSports was quietly settled just prior to the spinoff of CCC’s live entertainment division, Live Nation, formerly known as Clear Channel Entertainment (CCE).
The settlement was reached on Dec. 20; the spinoff took place two days later. Terms of the deal weren't disclosed.
JamSports, the motorsports division of Chicago promoter Jam Productions, originally filed the suit in April 2002 in the U.S. District Court for the Northern District of Illinois. The suit concerned promotion of American Motorcycle Assn. events. JamSports claimed that CCE used its leverage as the world's largest live-entertainment producer to intimidate venue managers, threatening that they would lose CCE events if they went with JamSports on supercross events.
On March 21 of last year, a Chicago jury awarded $90 million in damages to JamSports; on Aug. 15, U.S. District Court Judge Matthew Kennelly threw out the $90 million verdict and ordered a new trial on the issue of damages (Billboard.biz, Aug. 27).
“We are very, very, very, very happy and elated this matter is behind us,” Jerry Mickelson, co-president of Jam, tells Billboard.biz.
The resolution of the case allowed Live Nation to begin its life as a free-standing, publicly traded entity without being saddled with at least one of its legal issues. Andy Levin, executive VP/chief legal officer for Clear Channel Communications, could not be reached for comment.