Live Nation prevails against CTS

THAT'S THE TICKET: Live Nation was handed a victory today in its arbitration against German ticketing company CTS Eventim AG. The decision upholds Live Nation's 2010 decision to end its contractual relationship with CTS after purchasing Ticketmaster, charging in a regulatory filing that CTS had "failed to deliver a world-class ticketing system." The German firm then filed a complaint with the International Chamber of Commerce and sued for breach, seeking $1 billion in damages. Had the decision gone the other way, LN could've been on the hook for as much as $210m in fines, a possibility that made investors jittery. Needless to say, today's outcome is a big win for CEO Michael Rapino. "We are very pleased with, but not surprised by, today's ruling," he said in a statement. "The arbitrator's final decision vindicates Live Nation's steadfast position that we justifiably terminated our contract with CTS." Live Nation's stock rose 8.5% on the news; it's at $16.17 as of this writing. (6/12p)