As previously reported, TVT Records recently declared bankruptcy and fired a lot of it's staff yesterday. Now they have announced that they are planning to sell their distribution platform and may possibly partner with a digital content company to continue to operate. They plan to move forward with releases like "Crunk Rock," from Lil Jon. "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."
Named the top US independent record label by Billboard Magazine from
2001 through 2006, TVT’s roster also includes singers Teedra Moses,
Keke Wyatt and Lumidee, as well as Miami’s Pitbull and Memphis rapper
Yo Gotti, who is also slated to release an album this year.
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