*The legal battle with Verzuz co-founders Swizz Beatz and Timbaland against Twiller has ended.
We reported earlier that the veteran producers sued the Triller Network for $28 million regarding their Verzuz deal. In 2021, the video-sharing platform acquired the online music series for an undisclosed sum. According to the lawsuit obtained by The Washington Post, the network agreed to pay Swizz Beatz and Timbaland $18 million by March 20, 2022, and an additional $1 million every month for the subsequent 10 months. When the company defaulted on the payments, Timbaland and Swizztook legal action, demanding the $28 million they were allegedly owed.
On Thursday, a settlement deal was reached, but the exact details have not been revealed, Complex reports.
“VERZUZ has always been a platform that is by the artists, for the artists and with the people,” Swizz and Timbaland said in a statement. “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.”
Per the Complex report, the parties confirmed it’ll “increase the ownership stake given to the artists that Timbaland and Swizz Beatz brought to Triller as part of the original deal.”
“Verzuz and Triller will always be a safe place and outlet for creators and their art. Nothing will change that,” said Bobby Sarnevesht, executive chairman and co-founder of Triller. “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.”
Meanwhile, Diddy previously weighed in on the legal battle and urged all R&B artists not to appear on Verzuz until Triller settled the financial issue with Timbaland and Swizz Beatz.
“Since we ain’t f*ckin’ with [Triller] no more, since they’re f*ckin’ around with our boys, we don’t need to be going against each other,” Diddy said during a conversation with So So Def founder Jermaine Dupri, Rolling Stone reported. “Let’s come together and do that Bad Boy-So So Def in Atlanta. It ain’t no Verzuz, it’s just hit-for-hit.”
Swizz and Timbaland launched the virtual Verzuz battle series at the onset of the pandemic. Some of the music battles have included Ashanti vs Keyshia Cole, Teddy Riley vs Babyface, Erykah Badu vs Jill Scott, Brandy vs Monica, Chaka Khan vs Stephanie Mills, Patti LaBelle vs Gladys Knight, SWV vs XSCAPE, the late DMX vs Snoop Dogg, Gucci Mane vs Jeezy, Bow Wow vs Soulja Boy, just to name a few.
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