"The parties look forward to making these beloved recordings available to existing and new Spinal Tap fans for years to come."
The stars and co-creators of 1984 mockumentary This Is Spinal Tap have settled their multimillion-dollar lawsuit against the film's rights holders, French company Vivendi, parent company of Universal Music Group (UMG) and Studio Canal.
As reported by The Guardian, "the terms of the settlement were not disclosed and the suit over royalties from the film remains ongoing".
UMG will also continue to hold distribution rights to Spinal Tap’s music, although “eventually the rights will be given to the creators".
"The parties look forward to making these beloved recordings available to existing and new Spinal Tap fans for years to come," the settlement stated.
Harry Shearer, who played bassist Derek Smalls in the film, filed the lawsuit against UMG and Studio Canal in October 2016, claiming “fraudulent accounting” and “anti-competitive behaviour”, according to The Guardian.
Shearer's original lawsuit sought punitive and compensatory damages to the tune of $US125 million. The inclusion of actors Christopher Guest and Michael McKean as well as director/narrator Rob Reiner saw the collective potential damages rise to $US400 million.
Filed under the name of Shearer's company, Century Of Progress Productions, the complaint, which was handled by the Central District Court of California, asserted that Vivendi had deliberately misrepresented profits made from the ongoing sale and licensing of the movie to the creators, and its cast and crew.
The now cult movie, This Is Spinal Tap, tells the fictional tale of "one of England's loudest bands".
Shearer, who also voiced seminal Simpsons characters will be in Australia next year for Port Fairy Folk Festival. Head to theGuide for all the details.