UMG initially sought $500 million in damages against Believe

The record will be out June 12

The exec is stepping down from his role as Director of Black Music & Culture

Rappers such as Nas, DMX and more have sampled the artist

The dispute centers on the film’s ‘Bye Bye Bye’ dance choreography

The UK event has also lost the backing of drinks giant Diageo

Another brief submitted by a collective of legal scholars also supported the dismissal

The concert, comedy and events division will be led by SVP Erik Newson

The deal unites three respected independent music institutions

The seed round was led by Create Music Group