Prospect Park's Splinter: Where Azealia Banks, Backstreet Boys and Korn Have Landed

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Dave Navarro and singer Perry Farrell of Jane's Addiction perform at Brooklyn Bowl Las Vegas at The LINQ on November 21, 2014 in Las Vegas, Nevada.

The contentious December collapse of the 25-year business relationship between former Prospect Park associates Peter Katsis and Jeff Kwatinetz put most of the music artists under the firm's management banner into play, and the acts have chosen their destinations.

Sources tell Billboard that Katsis initially was girding for a court battle, but the time and expense it likely would have incurred led him to settle in February. Consequently, he will continue to manage Jane's Addiction, the band's lead singer Perry Farrell and Farrell's businesses (including Lollapalooza), as well as Smashing Pumpkins and new signing The Joy Formidable. The Pumpkins were at the center of the split, with one source telling Billboard that Katsis spent "90 percent of his time" on the group, a claim that Katsis disputed.

Did Smashing Pumpkins Break Up Jeff Kwatinetz and Peter Katsis?

Backstreet Boys have gone to Ron Laffitte at Maverick (home to Pharrell Williams, Madonna and Paul McCartney), and Korn to Roc Nation (Jay Z, Kanye West and Rihanna). Reps confirmed the moves for all acts except Korn; Roc Nation had not commented at press time.

The split leaves Kwatinetz and Prospect Park with just Azealia Banks, Ice Cube and P.O.D. as established music clients, along with developing acts like Dead Sara, Five Knives and Eden xo.

Billboard reached Katsis in South America on the Lollapalooza tour, but he declined to comment, as did a rep for Prospect Park.

This article first appeared in the April 4 issue of Billboard.