Swizz Beatz and Timbaland have settled their legal dispute with Triller.
The Verzuz co-founders sued the video-sharing platform for breach of contract back in August, alleging the company failed to deliver $28 million in payments after acquiring Verzuz in 2021.
But on Thursday, came news that all parties involved had reached an agreement.
“Verzuz has always been a platform that is by the artists, for the artists and with the people,” Swizz Beatz and Timbaland said in a statement via Variety. “We’re glad to come to an amicable agreement with Triller and continue giving fans the music and community that they’ve come to know and love from the brand.”
Added Triller Executive Chairman and Co-Founder, Bobby Sarnevesht: “Creators started this and will continue building it. This is a victorious moment in the Triller and Verzuz relationship as we march together toward the public markets. Stay tuned.”
Financial terms of the settlement were not disclosed, but the involved parties said “the settlement will increase the ownership stake given to the artists that Timbaland and Swizz Beatz brought to Triller as part of the original deal.”
Timbaland and Swizz Beatz, whose real names are Timothy Mosley and Kasseem Dean, created the Verzuz streaming music series in the early days of the COVID-19 pandemic. The concert events pit artists against each other in a friendly rap battle format.
Verzuz has been a huge hit, sometimes drawing over a million viewers to the live streams. Among the artists who have battled it out in the series are Brandy and Monica, Gladys Knight and Patti LaBelle, DMX and Snoop Dogg, and Omarion and Mario.