Verzuz creators Swizz Beatz and Timbaland reportedly reached a US $28 million-dollar settlement with video-sharing social networking service Triller in their lawsuit over the sale of the rights to the clash-series.

According to reports, the producer had contended they were owed the multimillion-dollar amount following a reported agreement between the parties in March.

The specifics of the settlement were not disclosed in the Thursday announcement, beyond an assurance that “the settlement will increase the ownership stake given to the artists that Timbaland and Swizz Beatz brought to Triller as part of the original deal.”

“Verzuz has always been a platform that is by the artists, for the artists and with the people,” Swizz the two 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 ” they added.

Triller’s executive chairman and co-founder Bobby Sarnevesht also chimed in following the announcement.

“Verzuz and Triller will always be a safe place and outlet for creators and their art. Nothing will change that”, he said. “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.” 

The two producers had filed the suit in August.

 Verzuz virtual battle series which kicked off in the heights of the Pandemic in March 2020 on Instagram, which had developed overwhelming popularity from their live battles. It was later sold to Triller for undisclosed terms about a year later.

Swizz and Tim; whose given names are Kasseem Daoud Dean and Timothy Mosley both received equity in the sale, along with 43 artists who had participated in the program.

This likely includes the Legendary Bounty Killer and Bennie Man. The two kicked off the series in an Iconic battle of hits which is regarded as arguably the best showdown to date.

It’s reported that the lawsuit alleged; Triller had failed to make a significant payment to the duo in January of this year, and that the service had agreed in a settlement to pay them a total of $18 million in March.

 That payout was said to be followed up with an agreed US $1 million a month for the following 10 months — however, none of the payments are said to have been made.

At the time of the August lawsuit, a Triller spokesperson responded with the claim that the company had already paid “over $50 million” in cash and stock to the pair so far, and that the pair had not met the threshold to receive any additional earn-out payments, which Triller said was at the heart of the dispute.

Said the Triller spokesperson in August, “It is unfortunate they elected to elevate this to the press as a ‘legal shakedown’ and it ignores the fact that they have deliverables which include, but are not limited to, delivery of a set number of Verzuz for 2022. We hope this was just overzealous lawyers jumping the gun… If this does proceed in court we look forward to a judgment that weighs all the facts.“

Six Verzuz challenges have aired so far in 2022, with the most recent being more than two months ago, when Luny Tunes and DJ Nelson competed on July 17.

The joint announcement Thursday said, “Swizz Beatz and Timbaland remain proud of the platform that they created with Verzuz and its acquisition by Triller due to the company’s willingness to celebrate and showcase artists.”