EMI Music has reached a settlement with Cash Money Records over unpaid licensing fees, Billboard reports. The money is apparently tied to Lil Wayne's 2008 release Tha Carter III. EMI sued Bryan "Birdman" Williams and Ronald "Slim" Williams' label in 2009 for "direct, contributory and vicarious inducement of copyright infringement, unfair competition and breach of contract." A judge ruled that Cash Money owed the powerhouse label $1.5 million.
As of last week Cash Money had yet to fully pay, still owing EMI almost $500,000. Today the labels issued a joint statement reading, "Cash Money Records and EMI Music Publishing have amicably settled EMI's recent lawsuit and their financial disputes on various record releases. The companies look forward to working together on future projects."
Cash Money and Lil Wayne's label, Young Money Records, has run into a plethora of lawsuits in the past, including one involving copyright infringement over Wayne's song "BedRock."
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