Lil Wayne has reportedly settled two lawsuits with Cash Money Records and Universal Music Group, potentially paving the way for the release of his long-awaited album, Tha Carter V. According to Billboard, the rapper’s lawyer has confirmed a settlement.
“Per our settlement agreement, the matter has been amicably resolved to the satisfaction of all parties involved,” Lil Wayne’s attorney Ron Sweeney of Sweeney, Johnson & Sweeney LLC told Billboard in a statement.
The details of the settlement have not been disclosed. “In terms of the particulars, we’re prohibited legally from saying anything further,” Sweeney continued. “I can say that my client is happy. He is his own man, a man that owns his assets, his music and himself. At some point, Wayne will let his fans know what’s going to happen next.”
Wayne’s legal saga began in 2015 when he sued his longtime label, Cash Money, as well as its co-founders Bryan “Birdman” Williams and Ronald “Slim” Williams. Wayne sought to end his contract with the label, claiming the company owed him a substantial amount of money connected to Tha Carter V. A year later, Wayne slapped Cash Money’s distributor, Universal Music Group, with another lawsuit, claiming unpaid royalties from both his music and the artists his Young Money label helped foster, such as Drake and Nicki Minaj.
With regards to the first lawsuit, a notice for dismissal was filed May 23rd, and according to the Blast, Universal paid “well over $10 million” to settle the suit. The agreement reportedly also ended Wayne’s deal with Cash Money, meaning Universal is now expected to release Tha Carter V. Rolling Stone was unable to independently confirm The Blast’s report.
– Excerpt from an article written by Jon Blistein for Rolling Stone. Find the full article here.
Disclaimer: Please note that the information contained within this news post and site is offered simply as a consideration to visitors who are in the entertainment industry and are seeking to learn more about various areas of entertainment, be it in film, movies, television, music, digital, new media, film financing, merchandising and/or branding. As such, the information so provided should never be construed as legal advice. If you need further assistance or legal advice for your specific matter, please do not hesitate in contacting an entertainment attorney (film, music, digital, licensing, financing) here in Los Angeles, California at The Hollywood Lawyer by(1) emailing us at email@example.com; (2) calling us at (323) 300-4184; or (3) filling out our online form. www.thehollywoodlawyer.com.