Swizz Beatz and Timbaland have reached a settlement agreement with Triller over their Verzuz stake. About a month after it was announced that the co-founders of Verzuz were suing Triller for $28 million, because of missed payments. The settlement allows Verzuz to remain between Swizz Beatz, Timbaland and Triller, hopefully for a long term relationship.
“VERZUZ has always been a platform that is by the artists, for the artists and with the people,” founders Swizz Beatz 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.”
The settlement will increase the ownership stake given to the artists that Timbaland & 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,” Bobby Sarnevesht, Executive Chairman & Co-Founder of Triller said. “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.”
This is actually the third payment restructure between Swizz and Timbaland and Triller since the sale of Verzuz back in 2021.
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