Author Topic: TVT Records Kicks The Bucket.....  (Read 204 times)

Styles1

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TVT Records Kicks The Bucket.....
« on: February 18, 2008, 11:13:54 PM »
http://allhiphop.com/stories/news/archive/2008/02/18/19308089.aspx

By Nolan Strong

New York based independent record label TVT Records terminated the majority of their employees today, sources revealed to AllHipHop.com today (February 18).TVT, which is home to major recording stars like Lil Jon & The Eastside Boyz, Pitbull, Ying Yang Twins, The Polyphonic Spree and others, is expected to file for Chapter 11 bankruptcy protection this week.

TVT Records was founded by its current President, Steve Gottlieb, who launched the label out of his New York City apartment in 1985. The labelís first success was the popular eight-volume Televisionís Greatest Hits collection, which chronicled various TV theme songs.

At its height, TVT Records was one of the top independent record labels in the United States, earning Billboardís Independent Record label of the year award 5 consecutive times in a row, the most recent in 2006.

In addition to Hip-Hop music, the label released music by Nine Inch Nails and other influential Modern Rock, Electronica, Industrial and Nu-Metal bands.

It is not known how the bankruptcy filing will affect the labelís release schedule, which includes Lilí Jonís highly anticipated album Crunk Rock.

Just weeks ago, Pitbull, one of the labelís top stars, lashed out at the label and urged fans to stop buying his new album, The Boatlift. Pitbull accused TVT Records of not properly promoting the album and placed most of the blame on Gottlieb.

"I'm out here working like a slave, doing things that other artists don't even know how to do," Pitbull said. "A label's there to further and promote your career, but it feels like they just keep holding me back."

TVT Records was also embroiled in a legal battle over early recordings by Cash Money Click, which featured Ja Rule. While an initial ruling awarded TVT Records $132 million dollars in damages, the figure was soon voided to zero on appeal.

The status of TVT Records' other businesses, including TVT Music Publishing, is not known as of press time.
SENIOR WRITER FOR WWW.ALLHIPHOP.COM

WWW.TWITTER.COM/TIM_SANCHEZ
 

Elano

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Re: TVT Records Kicks The Bucket.....
« Reply #1 on: February 18, 2008, 11:51:29 PM »
Lil Jon and Pitbull will find another label in a minute...
 

MANBEARPIG.

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Re: TVT Records Kicks The Bucket.....
« Reply #2 on: February 19, 2008, 04:02:11 AM »
The Polyphonic Spree wont have any trouble either^^

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R1ZE

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Re: TVT Records Kicks The Bucket.....
« Reply #3 on: February 19, 2008, 07:39:08 AM »
so does this mean Crunk Rock will finally drop?
 

Elano

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Re: TVT Records Kicks The Bucket.....
« Reply #4 on: February 20, 2008, 08:00:25 AM »
TVT Records has no intention to stop promoting its artists - regardless of the fact that the label just recently filed for Chapter 11 Bankruptcy.
According to AllHipHop, not only will the label continue to promote its current releases, but it will continue to prepare and schedule forthcoming releases, including the much-awaited Crunk Rock, which would be Lil John's fourth album for TVT. Also slated for release is the Ying Yang Twins' as-of-yet untitled 2008 release.
"I believe that we will emerge from this reorganization a stronger entity," said TVT founder and President Steve Gottlieb. "Our history of innovative marketing, creative branding and artist discovery are as much in demand today as ever before. The downturn in the music business has affected all of us, independents and majors alike. We all seek to adapt to a new business model."
The "reorganization" Gottlieb spoke of was not only filing for Chapter 11, but also laying off a significant portion of its staff, and shutting down international offices. TVT also plans to sell its distribution platform, and possibly enter into a partnership with several digital companies.
TVT, at 23 years old, was named the top US independent record label by Billboard Magazine from 2001 to 2006.
 

KURUPTION-81

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Re: TVT Records Kicks The Bucket.....
« Reply #5 on: February 20, 2008, 11:54:54 AM »
what went wrong ?

"My greatest challenge is not what's happening at the moment, my greatest challenge was knocking Liverpool right off their fucking perch. And you can print that." Alex Ferguson
 

R1ZE

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Re: TVT Records Kicks The Bucket.....
« Reply #6 on: February 20, 2008, 12:02:16 PM »
they didnt release anything
 

MontrealCity's Most

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Re: TVT Records Kicks The Bucket.....
« Reply #7 on: February 20, 2008, 12:43:21 PM »
Lil Jon and Pitbull will find another label in a minute...
hopefully  they dont lol