Clear Channel Communications has quietly settled a patent lawsuit by Grantley Patent Holdings over software used in Clear Channel Radio’s yield management system for managing commercial inventory. Terms of the settlement were not disclosed. Clear Channel had appealed a federal jury’s decision that it was guilty of patent infringement, but that’s now all been settled out of court.
A federal jury in Texas last April awarded Grantley $66 million, but that grew to $89.8 million when all of the interest and post-judgment royalties wee added in. But Clear Channel had filed to appeal that verdict to a higher court. The appeal could have dragged on for years. Instead, on December 29th Clear Channel and Grantley entered into a confidential settlement ending the litigation. US District Judge Ron Clark gave the settlement his OK and the case is over.
The Grantley patent is utilized by Maxagrid International for its radio inventory pricing software.