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TVT Records Goes Bankrupt, Forcing Entire Polyphonic Spree to Panhandle

2/19/08, 3:10 pm EST

The struggles of the music industry has claimed another victim as TVT Records, once voted Billboard’s Top Independent Record Label for five consecutive years between 2001 and 2006, filed for Chapter 11 bankruptcy protection and fired the majority of their staff. TVT’s shuttering likely makes unrestricted free agents of artists like the Polyphonic Spree, Lil Jon & the Eastside Boyz, Pitbull, Ambulance LTD and many more who were signed to the label. Also, it marks yet another former American Idol contestant getting dropped, as Season 5’s Paris Bennett will likely have to find a new home after releasing her debut album on the label. TVT once boasted artists like Jimmy Page, Gil Scott-Heron, the Brian Jonestown Massacre and KMFDM on its roster, and was also responsible for making it virtually impossible to find a new, non-imported copy of Nine Inch NailsPretty Hate Machine prior to 2005. Keeping with its acronym (TVT stood for T.V. Tunes) the label also had a sublabel, TVT Soundtrax, which specialized in the soundtracks of films, television shows and Broadway productions.

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Comments

Eddie Wilson | 2/19/2008, 3:25 pm EST

TVT goes bankrupt. Sad, really. But the record companies (not this one) have been screwing fans (not giving us a worthwhile product to buy) and artists (the vast majority get screwed, the sad stories never told) so this is how it all ends up.

TVT didn’t deserve to be killed with the rest of them.

No One | 2/19/2008, 3:59 pm EST

As the article says, TVT was screwing Nine Inch Nails for a long time.

Eddie Wilson | 2/19/2008, 7:22 pm EST

And TVT took a gamble on the then unknown Trent Reznor. Neither Warner nor Atlantic were busting down this guy’s door. I wouldn’t call making one album hard to come by “screwing someone for years”. Making something rare increases its value!

Anon | 2/20/2008, 10:12 am EST

TVT’s been screwing all of their artists for a long time, which is why Trent Reznor broke away and is now doing everything independently. It’s the way music is moving, and the industry still hasn’t figured that out.

icky polyphonic spree | 2/20/2008, 12:35 pm EST

saw thim open for a bowie concert,,,,gawd they suck.

* | 2/20/2008, 4:55 pm EST

TVT has made a business of screwing ALL the bands they’ve signed. I’ve seen it first hand…’nough said…. Good riddance, they can’t close down fast enough in my opinion. Hey Gottlieb, maybe it’s time to cut off the stupid ass ponytail and get a job! Don’t let his, “I believe in the little guy” shit. He’s a tyrant. We’re talking about a man who had a fit because a custom cassette tape box never sold in the market. BIOBOX? Get real… What did you think was going to happen when you created a glorified cigarette box as a storage medium at the end of the cassette era…

Gayle | 2/27/2008, 12:04 am EST

Look as far as labels go, my hats are off to those who worked day in day out at TVT who are the real victims in this label masacar. A good portion of this staff were incredibly passionate about MUSIC and their ARTISTS and really tried and did what they could for them. The higher ups were morons. All the other labels are going down and compensating their employees even alittle. TVT let their employees go, said thanks for your work for the past XX years and don´t let the door hit you on the arse on the way out. No financial comp no nothing. Meanwhile crapshooters over at other labels get major compensations for less work and ´so much less passion than these peeps at tvt. I have found this tragic and offensive to those of us who joined the music industry to do good and to see our friends at tvt be treated this way is absolutely shocking. The artists will bounce back sooner than the employees there. So to you former tvt employees thank you for your hard work. You were worth fighting for in getting rotations and placements more than your artists.

Live By the Sword | 5/3/2008, 2:48 am EST

and die by the sword! Gottlieb trampled over many people including his own family. Get a job Stevie!

j m | 6/20/2008, 12:11 pm EST

TVT was screwing their artists, thats why they went bankrupt, none of the artists like jon & pit cared about their projects because steve wouldnt re negotiate their contracts after they became platinum selling artists, thats the real reason why tvt went under, not too mention the a&r’s in charge dont have that vision. thats the real truth

in the know | 6/27/2008, 8:41 pm EST

get real you think trent reznor has never ripped someone off… at least tvt gave him a shot… lets hope someone saves this label

Teedra Fan | 3/31/2009, 5:40 pm EST

Teedra Moses is the greatest female artist I have every heard and she is a straight hustla…a go getter. She has done all her music since 2004 independently even though they are mixtapes, she is honestly the ONLY artist I listen to other that Amel Larrieux, and Tabi Bonney…. everything else is too commercial for me… she is a true genius!!!!! can’t wait for her to be free from TVT!!! Those sneaky snakes!

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