LIVE NATION PREVAILS AFTER SIX-YEAR COURT BATTLE

Michael Rapino's Live Nation has prevailed in a six-year court battle that saw the entertainment giant accused of "monopoly" practices by a promoter in Maryland.

A U.S. Federal court ruled in favor of LN in the case, which stretches back to 2009 and was filed by It's My Party and It's My Amphitheater, two entities run by promoter Seth Hurwitz, who accused Live Nation of restraint of trade by leveraging its venue ownership to retain exclusivity over artists.

The court also looked at the ability of large promoters like LN to hold tour monies in escrow.

Judge Frederick Motz, however, declared in his summary judgment that LN had not violated any anti-trust laws.

In other words, far from being anti-competitive, the company is just very, very competitive.

“We are very pleased with the judge’s ruling, which we believe validates Live Nation’s business approach and practices, and which aligns with our long-standing belief that the accusations made in this case were completely false," reads a statement from LN. “We feel vindicated that the court was able to see through the baseless allegations by a rival promoter and recognize that the claims of anti-competitive conduct had no merit. Our focus is, and will continue to be, providing a world-class live music experience for artists and their millions of fans.”