Timbaland, Swizz Beatz Settle With Triller in 28M Suit Over ‘Verzuz’ Deal

Timbaland, Swizz Beatz Settle With Triller in 28M Suit Over ‘Verzuz’ Deal
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Timbaland and Swizz Beatz have settled their lawsuit against Triller over the sale of Verzuz.

The settlement will increase the ownership stake in parent company Triller Network given to the producers as part of the original deal, according to the two sides in an announcement of the agreement. Further terms weren’t disclosed.

Timbaland and Swizz Beatz sued Triller in August for breach of contract, claiming that the aspiring TikTok rival failed to make a 28 million payment for the acquisition of Verzuz. The rap-battle show was purchased for an eight-figure sum in March 2021 in a deal that made the duo shareholders in the company.

The deal has been plagued with litigation. After Triller failed to make a payment to the music producers in January, the company agreed in a settlement that it would pay them 9 million each by March 2020 and 500,000 per month for the following 10 months,
See full article at The Hollywood Reporter - Movie News »

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