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.
