After weeks of public blow out between Runtown and his record label, Ericmanny Entertainment, the singer and the label’s management have reportedly settled the rift between them out of court by reaching a new agreement. This is sequel to a court hearing on the 14th of this month in New York where Runtown’s law firm helped the singer negotiate an out of court settlement.
According to a source, “Runtown and Dilly agreed to settle out of court and Runtown will remain with the label for one more year but its i now more of a partnership deal because it gives Runtown more control,’ Another source also confirmed that Runtown is now working towards floating his own record label under the banner of ‘Power In The Music’ (PITM).
This news comes after Runtown and his label exchanged a series of legal injunctions against one another. The singer’s label accused him of coveting label funds and disregarding their signed agreement while Runtown accused the label’s management of threatening his life and emotionally and psychologically abusing him. Their settlement marks the second of its caliber where both artiste and label management come to a middle ground compromise instead of completely kicking each other out as is the norm.
With Skales opting for a similar deal with Baseline records, we want to say we’re witnessing a change in the industry, where contracts are taken seriously and both artiste and label respect the value of their working relationships but it may take a couple more cases in point to get away with such a statement, so we will wait.