Lil Wayne can finally release ‘Tha Carter V’ after settling lawsuits with Cash Money Records and Universal Music Group.
The rapper has been involved in legal proceedings with the two record labels since 2015, delaying the release of the long-awaited album.
Wayne’s 2015 suit against Cash Money, owners Birdman and Ronald ‘Slim’ Williams, UMG Recordings, and Universal Music Group claimed the labels did not pay him an $8 million (£6 million) advance or a $2 million (£1.5 million) completion fee. According to The Blast, Universal paid “well over $10 million” (£7.4 million) to settle the complaint, which was reportedly dismissed out of court.
The settling of the suit means Wayne can now release ‘Tha Carter V’ and, it’s claimed, Universal are set to do just that.
A second suit against Universal Music Group and SoundExchange dating from 2016 has also been settled. In it, the rapper sought at least $40 million (£29.8 million) in damages, claiming the label had withheld profits he had earned from Young Money artists, like Drake, Nicki Minaj, and Tyga.
Pitchfork have obtained a notice of dismissal dated May 25, 2018, which does not note any monetary settlement, but says each side agreed to “bear its own costs and attorneys’ fees”. Young Money is an imprint of Cash Money and is distributed via Universal.
‘Tha Carter V’, Lil Wayne’s 12th studio album, was recorded between 2013 and 2014. The rapper has long said in interviews it would be his last solo album. Its release has been delayed several times.
“Pharma bro” Martin Shkreli claimed to have obtained the album in 2016. He told his followers on Periscope that he had just bought “the most exclusive” and “most sought after” rap album. He played a short clip on the streaming channel and said the purchase would “make Wu-Tang look like nothing”, referring to his possession of the only copy of the hip-hop group’s ‘Once Upon A Time In Shaolin’.