Slash: "In peace" with Guns N' Roses greatest hits

Earlier this week, former Guns N' Roses members Slash and Duff McKagan - now with Velvet Revolver - decided to take action against frontman Axl Rose after a royalty check for the first quarter of 2005 failed to materialize. The two contend that the check went straight to Axl who sold the rights to the GNR back catalog earlier this year to the publishing arm of Sanctuary Music, the same company that currently manages him.

Ironically, the three Guns N' Roses principals, including Rose, filed a joint lawsuit in early 2004 to stop the release of a greatest hits collection without their approval by the band's record label. Slash told us he has since made his peace with the record: [ click here to listen if you have a Backstage Pass] "You know, it's cool, 'cause if we want to do another greatest hits album, I mean, obviously we'd all have to have a meeting of the minds, Axl included, in order to do it properly, so I don't see that happening any time immediately in the future."

The long-delayed new Guns N' Roses album, Chinese Democracy, is still nowhere in sight.

Velvet Revolver co-headline Ozzrfest on Thursday, August 25th in Dallas, Texas.