The ownership of Verzuz has been a hot topic of discussion lately, but Swizz Beatz and Timbaland are here to set the record straight. Contrary to speculation, the megaproducers emphatically declared that Verzuz is still 100% Black-owned.
After allowing Triller to acquire the battle web series for a significant sum in March 2021, Timbaland and Swizz found themselves entangled in a legal dispute with Triller by August 2022. They alleged that Triller breached their contract by failing to make a $28 million payment for the acquisition of Verzuz.
The fallout from the legal battle left Verzuz in a hiatus, leaving fans wondering if the essence and cultural significance of the platform had been compromised. However, Swizz Beatz and Timbaland took to Instagram Live over the weekend to address the concerns and affirm their sole ownership of Verzuz.
— HipHopDX (@HipHopDX) May 14, 2023
In a captured clip shared by Hip Hop DX, Swizz emphatically stated, “Verzuz is still 100 percent Black-owned.” He further clarified, “50 percent on the top of your screen, and 50 percent on the bottom of your screen. In case you ain’t know. Word to Allah. OK?”
Swizz also emphasized that Verzuz was built for the people and would remain with the people. He expressed love for everyone involved, despite the ongoing legal battles.
However, their claims seem to contradict the 2021 acquisition of Verzuz that made them shareholders and members of the Triller team. At the time, Triller’s parent company, Triller Network, acquired the Verzuz platform, while Swizz and Timbaland obtained shares of the company, according to Variety reports.
The acclaimed producers, known for creating hits like “Promiscuous” and “On To The Next One,” not only joined Triller’s management team but also allocated part of their equity stake to the 43 performers who had participated in Verzuz.
Although fans have eagerly awaited the next big Verzuz battle since the last one between Mario and Omarion in June 2022, the upcoming clash between Diddy and Jermaine Dupri, scheduled for this fall, promises to be worth the wait. Stay tuned for more updates on this captivating Verzuz journey.