It looks like the legal Verzuz battle between Swizz Beatz, Timbaland and Triller has come to a close.
On Thursday, it was announced that all parties involved had reached a settlement with regard to the $28 million suit the two artists brought against the social networking and music platform citing a breach of contract. While specific details as to what all the settlement involves have yet to be disclosed, it’s said to “increase the ownership stake given to the artists that Timbaland and Swizz Beatz brought to Triller as part of the original deal,” according to Variety.
Upon the news of the new agreement, Swizz and Tim sent out a joint statement sharing their pleasure with the end result:
Verzuz has always been a platform that is by the artists, for the artists and with the people. 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 Bobby Sarnevesht, Triller’s executive chairman and co-founder: “Verzuz and Triller will always be a safe place and outlet for creators and their art. Nothing will change that. Nothing will change that. 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.”
As previously reported by The Root, in August, Swizz and Tim sent shockwaves through the music news cycle by announcing the suit against Triller citing breach of contract due to Triller’s decision to default on their original acquisition deal and subsequent settlement and payment agreements. At the time, the company later said it had plans to countersue the producers for $50 million but that never came to fruition and will more than likely not now that an agreement has been reached.