Owner of Seattle's iconic Showbox settles lawsuit with city

SEATTLE -- The court battle over the iconic Showbox music venue in Seattle is over.

Seattle's Landmark Preservation Board voted in favor of nominating the theater for historic landmark status in June, ending the owner's plans to sell the venue to a real estate developer.

The building's owner Roger Forbes filed a $40 million lawsuit and claims the city failed to follow proper protocol.

Forbes and the city reached a settlement this week, with the city covering $915,000 for Forbes' attorney fees and court costs. It's far less than the $40 million he sought.

As part of the agreement, there's an option for a third party to buy the property and rights to the Showbox name for more than $41 million.

Neither party will admit liability, and neither party will appeal, according to the terms of the settlement agreement.

The Showbox has played host to countless big-name acts since it opened in 1939, including Duke Ellington, the Ramones, Pearl Jam, Nirvana, Prince and Lady Gaga.