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Martin Makes Nice with Ex-Manager

Ricky Martin will be livin' la vida a little less loca from now on.

The Latin popster has settled a $60 million legal tussle with former manager Angelo Medina, putting an end to months of courtroom battles over a breach-of-contract dispute.

Both sides have been prohibited from releasing details of the settlement, but expressed mutual relief that it was over.

The duo even appeared huggy-huggy at the press conference Wednesday, despite heated courtroom accusations and Medina's request just two weeks earlier for Martin to be held in contempt of the court. What a difference a (presumably sizeable) settlement makes.

"Today we have resolved our differences as it always should have been, within the family," Medina said following the announcement.

Martin, for his part, was equally happy to put the event behind him, though a tad more self-referential in his statement of goodwill.

"Ricky Martin has no regrets," the 32-year-old Grammy winner declared. "Each step he takes, he takes with conviction."

In a press release, the duo says they have "resolved all their differences...This event does justice to the legacy that both have constructed for Puerto Rico, Music and the Latin Race."

Tensions rose last May when Martin filed a $2.5 million lawsuit against his manager of 12 years, with Martin claiming he had paid Medina for services not rendered. Medina quickly returned the favor with a $63.6 million lawsuit of his own, accusing Martin of falling short of previously agreed upon terms when their contract ended in September 2003.

The problem was this: Medina wanted to return to his native Puerto Rico and spend more quality time with his rarely seen familia. He was to continue managing Martin in the country but informed the songster that he should find someone else to promote his shaking bon bon throughout the rest of the world. Not keen on the compromise, Martin severed all ties with Medina.

For all their financial problems, Martin may have done well to stick with Medina. The manager brought Martin to the forefront of America's Latin music infusion and drove sales of Martin's self-titled English album through the roof.

The former Menudo singer's latest Spanish-language album, Almas del Silencio, has sold 2 million copies since its 2003 release.

Martin is currently being managed by Jennifer Lopez's former man in charge, Benny (no relation to Angelo) Medina. As Martin says in the post-settlement press release, "Even though I am looking for new direction in my career, I continue to count on [Angelo's] help and good advice."

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