NEW YORK (Clear Channel
Music Group) - Clear Channel
Music Group and New York promoter John Scher today announced they have resolved their differences in a mutually satisfactory agreement. Details were not disclosed.
In 2002 Clear Channel acquired many of the assets of Mr. Scher's former company, Metropolitan Entertainment, Inc. including a disputed non-compete agreement which covered Mr. Scher's activities as a concert promoter. Numerous Federal Court lawsuits have been filed by both parties against each other requesting the court resolve a number of issues surrounding the acquisition.
"I am pleased that we have amicably been able to resolve the issues between Clear Channel, myself and our company. I have had a long and successful relationship throughout my career with many of the individuals that now make up Clear Channel Music. Now that the legal issues are behind us, I look forward to working with them on projects as well as enjoying a healthy competition with them," said Mr. Scher, co-CEO of the NY-based Metropolitan Talent.
"We're happy to have this matter behind us. John is a pioneer. He has and will continue to make significant contributions to the business. We view him as a worthy competitor and wish him all the best," said Michael Rapino, president and CEO of Clear Channel Music Group.
About Metropolitan Talent
Metropolitan Talent is a multi-faceted entertainment company led by co-CEO's Al Cafaro and John Scher. Divisions include artist management, Hybrid Recordings, live concert production/ promotion, theatre and television production, and marketing services. The company is based in New York City.
About Clear Channel Music Group
Clear Channel Music Group, a division of Clear Channel Entertainment, focuses on global, national and local promoting, venue and festival management and artist touring services. The Music Group promotes live music concerts by a majority of the world's most popular performers, as well as many new up-and-coming artists. Clear Channel Music Group comprises 13 business units: Bill Graham Presents, Avalon Attractions, Evening Star Productions, PACE Concerts, Cellar Door North, Cellar Door South, Belkin Productions, Elevated Concerts, Electric Factory, Jim Koplik Presents, Ron Delsener Presents, Tea Party Concerts and Chuck Morris Presents.
