Days after quietly reaching an agreement in a long-simmering lawsuit over Tom Petty’s estate, the rocker’s widow Dana Petty and daughters from a previous marriage, Annakim Violette and Adria Petty, announced that both parties have “resolved their differences and dismissed all litigation matters.”
“Each of them sincerely regrets that in their intense grief over Tom’s tragic death, actions were taken that were hurtful to one another,” the estate said.
Now unified, Petty’s family announced a new LLC called Tom Petty Legacy to manage all aspects of the estate. “We are committed to honoring Tom’s voice, music, integrity and his charitable spirit,” Dana, Annakim and Adria Petty said in a joint statement.
Under the terms of the partnership, “Each member of the family will have equal standing in Tom Petty Legacy, LLC and will work together on all future endeavors. The business will build upon Tom’s 40+ years of great music and his historic career.”
The estate has also aligned with Red Light Management to “guide, advise and execute on behalf of the estate.”
The legal rift between the widow and the daughters reportedly impacted the release of the posthumous collection An American Treasure and nixed a planned 25th anniversary edition of Petty’s acclaimed 1994 album Wildflowers; even with the resolution official, the status of those projects remains unknown.