The ongoing legal saga between Lil Wayne and Birdman has come to an end, this after the pair reached an eight-figure settlement. Adding to the good news, it appears that Wayne will finally have the freedom to release his long-awaited Tha Carter V album, but will do so outside of the Cash Money Records wheelhouse.
The Blast reports:
According to court documents obtained by The Blast, Wayne’s attorney, Howard King, filed a notice with the court on May 23 that all sides are ready to dismiss the lawsuit.
Our sources say Universal wrote a big check to settle the suit and none of the money came from Birdman. As for the amount, we’re told it is “well over $10 million.”
We are told that Universal was comfortable with the massive payment because they believe they will recoup the profits from Drake and Nicki Minaj going forward — a major part of what Wayne was suing over.
As part of the arrangement, Lil Wayne is now officially done with Cash Money and the infamous “Tha Carter V” album will now be put out by Universal.
The outlet adds that the settlement was for over $10 million, far less than the $51 million Lil Wayne was initially seeking.
Lil Wayne Settles With Birdman, Cash Money & Universal Records was originally published on hiphopwired.com