Axl Rose and Irving Azoff Settle Lawsuit

Axl Rose has settled a legal battle with former Guns N' Roses manager Irving Azoff over breach of contract allegations.

Azoff sued the Guns N' Roses legend in March, 2010, accusing the vocalist of reneging on an agreement to cut him into the profits of a tour. Rose launched a countersuit, alleging his ex-manager attempted to sabotage his career after he refused to reunite with the band's original members, including Slash and Duff McKagan. He demanded more than $5 million in damages for breach of fiduciary duty, constructive fraud and breach of contract.

Attorneys for both parties appeared in Los Angeles Superior court on June 14th and informed the judge they had finally reached a settlement. Howard King, Azoff's high-power lawyer, told the press, "They [lawsuits] were settled to the mutual satisfaction of the parties." The terms of the agreement are being kept under wraps but legal papers filed by Rose's lawyers state that the deal would involve "a comprehensive touring agreement, in which Guns 'N Roses would perform at various... venues".

Azoff is arguable the most powerful artist manager in the music business. Since he emerged in the early '70s, he's steered the careers of everyone from the Eagles and Van Halen to Neil Diamond and Seal. From 1983 to 1989 he headed MCA Records and has also produced feature films like 'Fast Times at Ridgemont High' and 'The Inkwell.' In late 2008, he became chairman and CEO of Ticketmaster Entertainment. He is now Executive Chairman of Live Nation Entertainment.

Watch the video for 'Dead Horse' from Guns N' Roses