Clear Channel Music Group and promoter John Scher have settled their dispute over Scher’s non-compete agreement. Terms of the deal were not disclosed.
Scher sold his New York City-based Metropolitan Entertainment to Covanta Energy Corp. in 2001 and the longtime promoter signed a four-year non-compete in the process. Covanta later went bankrupt and Scher’s former company was sold to promoter Mitch Slater, and later acquired by Clear Channel. The non-compete agreement followed its way through the various permutations of
A judge let the non-compete expire in March but Clear Channel argued it should be extended another four years, claiming Scher violated its provisions by actively promoting concerts.
However, Scher told Pollstar at the time that the legal logjam had been loosening since CCE Global Music President Michael Rapino took over the reins.
“I am pleased that we have amicably been able to resolve the issues between Clear Channel, myself and our company,” Scher said in a joint statement. “I look forward to working with them on projects as well as enjoying a healthy competition with them.”
“We’re happy to have this matter behind us,” Rapino added. “John is a worthy competitor and we wish him all the best.”