Timbaland and Swizz Beatz have settled their lawsuit with Triller.

In an announcement on Thursday, Timbaland, Swizz Beatz, and a representative for Triller announced that they had settled their $28 million (£25 million) lawsuit.

In the legal action, the musicians claimed they were owed money following the sale of their webcast series Verzuz to the social media company in early 2021.

Though the specific terms of their settlement were not revealed on Thursday, the musicians' joint statement did note 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".

The statement continued, "Verzuz has always been a platform that is by the artists, for the artists and with the people... 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."

Triller executive chairman and co-founder Bobby Sarnevesht also released a statement following the settlement announcement.

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