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.
This has to be great news for Pitbull who had various disputes with Steve and the TVT Label over promotions! - Hey pit... Now you van be featured in any record you want, with out having to ask the label head. Do your thing homie! (LOL)
Update....
TVT Records plans to continue promoting its current projects, despite the 23-year-old independent label’s decision to file for Chapter 11 reorganization, the company told AllHipHop.com today (Feb 19).
The label also intends to continue preparing for and scheduling upcoming releases, which tentatively includes Crunk Rock, Lil Jon’s long awaited fourth album for TVT and the Ying Yang Twins’ anticipated 2008 release, which is currently untitled.
"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." (by AllhipHop)
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