MUMBAI: Music giant T-series who terminated its content deal with digital distributor South Asian Audio Visual Network (Saavn) is negotiating an amiable solution to the deadlock.
The label, who claimed that the agreement was dropped due to breach in the contract clause, is in process to come-up with a solution to persist their deal.
Confirming the news with Radioandmusic.com, T-Series president Neeraj Kalyan said, “Although the agreement deal was terminated we are negotiating an amiable solution to the deadlock.”
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T-Series, who owns the largest music catalogue entered into the deal with Saavn in 2009. The deal benefitted Saavn in expanding its music catalogue. The termination of agreement may result into a big advantage for Saavn’s rival site Dhingana, as the label has recently signed a deal with the social music streaming service.
When contacted, Saavn officials refused to comment.
