'n Sync Said To Have Settled Lawsuits

After weeks of negotiations, 'N Sync has reportedly reached an agreement with ex-manager and Trans Continental Media head Lou Pearlman and BMG Entertainment. According to The Hollywood Reporter, financial terms of the settlement were not disclosed.

The agreement terminates $175 million worth of bad blood between the multiplatinum boy band -- which has sold more than 10 million records worldwide -- and its former manager and label.

In October, Pearlman filed a $150 million breach-of-contract suit against 'N Sync, claiming that the band illegally fired him and leapt from the BMG-owned RCA Records to Jive Records, the label behind fellow teen stars Backstreet Boys and Britney Spears.

On the heels of that suit, 'N Sync filed a $25 million counter suit against Pearlman and his management company, citing fraud, breach of contract, and breach of fiduciary duty.

A few weeks later, a federal judge in Orlando declined to issue an injunction that would have blocked 'N Sync from recording for Jive. The judge's decision was a major setback for Pearlman and, sources said, expedited the settlement talks.