It was announced yesterday by some obscure blog—maybe the same Arabs who revealed that Nas used to put a shoe on Kelis—that Lil Wayne settled his lawsuits against Birdman and Universal, and it's since been confirmed by Billboard and Pitchfork.
There were two separate suits, one that essentially alleged that Lil Wayne wasn't receiving royalty payments, despite having sold millions of albums, and one that alleged that he hadn't been compensated for having discovered Drake and Nicki Minaj.
Few substantive details of the settlements have been revealed, but it sounds like Universal Music gave Lil Wayne $10 million to fuck off, which, if it's true, means that he probably settled with them for pennies on the dollar.
It's hard to know what he was really owed, but it's hardly inconceivable that he generated hundreds of millions of dollars in revenue for Cash Money Records and Universal Music, between sales of his own albums and his cut of albums by Drake and Nicki Minaj.
And it sounds like Birdman got off without having to pay anyone. The $10 million is coming from Universal Music, but the settlement also absolves Cash Money of any obligation to Wayne. It frees Wayne from his contract with the label, but his best days are probably far behind him at this point anyway.