Tricon, The Pizza plc Settle Pizza Hut Dispute - TheStreet

You're supposed to scream over ice cream, not pizza!

Well, for U.S. chain foodie

Tricon Global Restaurants

(YUM) - Get Report

and Thai fast food king

The Pizza plc

, the screaming is over. The duo had been feuding over

Pizza Hut

licenses, with The Pizza suing Tricon for $180 million. Tricon responded with a countersuit. At question is who has the right to call its restaurants "Pizza Hut."

Today, both companies agreed to drop all legal actions, settling the dispute. The Pizza will continue to operate its 116 Pizza Hut restaurants until the end of the year, when The Pizza will become a new company called

The Pizza Company

. Then those Pizza Hut restaurants will become a different brand. Meanwhile, Tricon's company-owned stores will stay Pizza Hut.