When you get beat by 'em, join 'em

The Associated Press had prevailed in its lawsuit against sued L.A. artist Shepard Fairey for the latter's use of an AP photo as the basis for his "Hope" posters of then-presidential candidate Barack Obama. Now comes word that the two sides have settled out of court, with Fairey agreeing to work on a series of Hope posters based on AP images. The two parties will share the profits.

Here's the AP announcement (via Nieman Journalism Lab):

In settling the lawsuit, the AP and Mr. Fairey have agreed that neither side surrenders its view of the law. Mr. Fairey has agreed that he will not use another AP photo in his work without obtaining a license from the AP. The two sides have also agreed to work together going forward with the Hope image and share the rights to make the posters and merchandise bearing the Hope image and to collaborate on a series of images that Fairey will create based on AP photographs. The parties have agreed to additional financial terms that will remain confidential.