TVT Records, the nation's largest independent record label, will reportedly file for Chapter 11 Bankruptcy this week after a disturbing slew of ugly lawsuits, shady business moves, and general artist over-fucking. "This is not the end of TVT," company head Steve Gottlieb absurdly insists to Billboard.com.
You might recognize the TVT name because of all of the Nine Inch Nails and Lil Jon records you own.
No?
Well, anyway, TVT has been embroiled in some... uh, less than classy legal battles, including a suit against Island Def Jam over a Ja Rule album in 2003 and a more recent skirmish with Miami label Slip-n-Slide over rights to a Pitbull album, which TVT eventually lost and was ordered to pay compensatory damages of almost $2.3 million and punitive damages of over $6.8 million in 2007.
And here in jolly old 2008, my man Pitbull recently lashed out at TVT in an interview with Los Angeles radio station KPWR, claiming it didn't properly promote his newest album, The Boatlift. "I'm out here working like a slave, doing things that other artists don't even know how to do,” the rabid rapper barked. “A label's there to further and promote your career, but it feels like they just keep holding me back.” He’s now asking his fans not to buy the album in protest.
Still, you’ve got to hand it to Gottlieb. He really seems hell-bent on, uh, not looking stupid. "We have been an agent of change," he deliriously insists, "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."
Amen, Steve. Right after that bankruptcy!
Oh, by the way, back before all of the questionable business decisions and vindictive hip-hop artists, the imploding label apparently got its oh-so-credible start in 1985 with, get this, Television's Greatest Hits, an album featuring, yes, theme songs from hit TV shows.
Hmmm... speaking of bad decisions and hit TV show themes, try this one out, Steve.
Thanks for playing!
