TVT: They Owe A Lot Of People A Lot Of Money
Which is why you should check out the bankruptcy-protected label's list of unsecured creditors, just to make sure that you aren't on it. For those of you who are pretty sure that you don't need cash from TeeVeeToons, Inc., there's still good reading to be had: The label owes $26,883.50 to SoundScan, and $1,300 to the now-defunct Harp, Also, their accounts payable department has apparently neglected to send a $945.46 check to Chad Kroeger for some time, and I for one would love to know why. [scribd via Coolfer]
TVT founder Steve Gottlieb refutes the rumors that his label is going the way of the dodo, saying that yesterday's staff-cutting will actaully make the label stronger: "We have been an agent of change, most notably fighting for respect for independents when most major media and trade outlets minimized their role, and fighting for industry change in the digital arena whether in our breaking ranks and settling with Napster in 2001, or in numerous other initiatives. I am optimistic that the company's independent spirit, history of innovation and willingness to pioneer new music and new business models are more valuable in this marketplace than ever before and that we will emerge from this reorganization a stronger more vibrant entity." Also, he claims that the company's going to continue promoting Pitbull's album, although if you ask the Miami rapper what "continue" means you'll probably get an answer that involves the words "jack" and "shit." [Hits]
Especially because there are, at present, 596 responses to the cryptic post above, which Reznor posted last night, shortly after the news of his former label's imminent doom broke. And who wants to slog through a bunch of Internet fanboys/fangirls' incoherent ravings when there's someone around who's not only willing to do so, but willing to neatly categorize them for you?
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Last night, the New York-based label TVT Records fired the bulk of its staff, and it's expected to file for Chapter 11 bankruptcy protection later this week. TVT, which started in 1985 as a label devoted to bringing the television themes of yore together on the Television's Greatest Hits compilations, had a roster of artists that at one time included Nine Inch Nails, and currently includes the Polyphonic Spree, Lil Jon, and the Ying Yang Twins. Trouble has been brewing at the label for a while: In 2005 Lil Jon had a public spat with label president Steve Gottlieb (although the two have since reunited, and TVT was supposed to release his forthcoming album Crunk Rock sometime soon), and a few weeks ago, another member of the label's roster, Pitbull, told his fans that they should download, and not buy, his recent album The Boatlift because Gottlieb didn't deserve to profit from his work:
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