TVT Records to File for Bankruptcy

After more than 20 years in the business, premier independent label TVT Records will reportedly file for Chapter 11 bankruptcy protection later this week. According to Billboard.com, the development has been confirmed by sources close to the situation. TVT, home to Lil Jon, Pitbull and the Ying Yang Twins, was originally launched by Steve Gottlieb in 1985 in New York City. After a string of successful releases in other genres, the label soon shifted its focus towards independent Hip-Hop artists. Although the label is one of the most highly regarded indie labels in the country, several artists have publicly criticized their business practices. Lil Jon was especially vocal about a financial dispute with the company, although the two parties eventually reconciled. In 2007, the label lost a legal battle with Miami based Slip-N-Slide Records over the rights to a Pitbull album and was ordered to pay $9.1 million in punitive and compensatory damages. Pitbull himself also slammed the label over what he felt was a lack of promotion for his LP The Boatlift. While several employees have reportedly been layed off at TVT Records, it is believed that the music publishing division will continue to operate.

  • J.Rock

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  • latino heat

    damn the record biz is in trouble. a label that’s been around for 20 years folding? it’s gonna get worse before it gets better.

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  • http://myspace.com/itzlildan Lil Dan

    OO.. I HAV A FEELING RAP-A-LOT MIGHT BE IN THA SAME POSITION IN A FEW YEARS FROM NOW..

  • Flymasta

    I FEEL SORRY 4 O-SOLO HE WAS PROLLY GONNA MAKE IT BIG NOW WE WILL NEVER KNOW

  • C

    Pitbull is right. I’m from Miami and I didn’t know until after the album was out that Pitbull was working on a new album.

  • Mean Greene

    Um, yeah…still gonna need that Teedra Moses album.

  • NIG

    FUCK RAP….IM GOING INTO FILM….GOTTA SPREAD THE HUSTLE…..THE INDUSTRY IS GONE DOWN THE DRAIN……GOOD LUCK 2 U WANNA BE RAPPERS YOUR GONNA NEED IT………….

  • RAP IS CRAP

    TVT is a graveyard, but don’t get it twisted, most these ‘Jigs’ running around with demos would sign a deal with them in they Mommas blood just to lick the “Rap Industry’s” plate!

  • Trickdd

    TVT FILE FOR BANKRUPTCY.LoL. I HAVENT SEEN ANYTHING FROM THAT LABEL IN A WHILE EVEN LIL JONS CD HAD TO BE PUSH BACK CAUSE SNAP YO FINGERS CAME OUT LAST YEAR FUCKEM THEY MUST BE SOME SHADY ASS INDUSTRY PEOPLE IF YOU DONT NO HOW TO RUN YOUR BUISNESS AND TRY TO FUCK OVER SLIP AND SLIDE

  • C-DOPE

    FUCK BEING A RAPPER

    KIDS SELL DRUGS OR TRY TO GET IN THE NBA BLACK KIDZ THAT IZ

    ALL DEM NIGGAZ IN DAT RECORD LABEL SUCKED ANYWAYS

  • Richard

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  • Vicious Seiger

    Bad is Business is Bad Business. TVT was one of favorite underground labels in the 90′s with Blunt Recordings. They never really hit their stride even with Lil Jon’s BME Imprint but the head of the label was jive shady. I remember David Banner talked about a situation where he wanted to clear Lil Jon’s Guest Appearance on one of his albums and how he asked the Label Head for the clearance in person. Long story short Banner was told it was cool but never actually received any official OK on paper leaving him without permission to clear Jon’s appearance. As for the talent situation not to many of these artist should have a hard time finding label homes just don’t expect very lucrative deals for anybody except Jon. Teedra Moses has the talent, she just needs to get the proper promotion team behind her. Pitbull’s was my boy until El Mariel and The Boatlift were released and neither album was taking his career to the next level. It’s a shame to see if this label will actually desolve like so many others but the music business is a hard hustle that is very unforgiving.

  • broken down

    tvt’s biggest artist was nine inch nails in the 90′s and they made money off him cause he played everything & produced everything himself.his road band was only paid for tours.the first tour member to leave formed the group filter who found their own success.nin had interscope distributing his records.he did evevything himself so the label only had to invest in a video.lil john was a intern when he decided to do what he do now.with lil scrappy thats 5 labels eating off 1 artist at an independent bme g’z up g-unit interscope tvt c’mon now!!!!

  • POLO DIZ

    HA HA HA HAAAA! SNAP YO FINGERS N GO BROKE….YOU CANT BE RICH ALL BY YO SELF…LET ME SEE YOU DO IT..AYYYYYYY SPEND YO MONEY UP..LIL JON SHIT WOULDA BEEN TRASH ANYWAY….TOO MUCH BUILD AROUND AN ALBUM…N THATS WHAT HIM AND PIT BULL AND WHOEVER THE BACK BURNERS WERE FOR FUCKEN WIT THE “MOUNTAIN CLIMBER WHO PLAYES AN ELECTRIC GUITAR” AND THE OTHER SUITS…

  • EReal

    Good. Less Crappy music.

  • Trickdd

    What the fuck happen to pitbull though i remember when he first came out with that M.I.A.M.I. Money Is a Major Issue then after that shit he got soft he whent from be in street to be in for the bitches in a flash and he suppose to be a rapper not a R&B artist unless he had to put shit out like that cause the label. but come on pit you have that rap talent man dont keep maken that girly club shit make that street shit nigga when he was fuckin with slip and slide is when he had that street shit i bet thats who pits gunna sighn with

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