Tuesday, February 19, 2008 | 12:26am
BREAKING NEWS: TVT Records files for Chapter 11.
Label goes under
AllHipHop.com is reporting that TVT Records home to Lil Jon & The Eastside Boyz, Pitbull, Ying Yang Twins, The Polyphonic Spree will file for Chapter 11 bankruptcy protection this week and has already terminated the majority of their employees today.
The label founded by President, Steve Gottlieb, who originally launched in 1985 as distributor of TV theme songs and movie soundtracks. A sign of the times, TVT once one of the top indies in the United States capturing Billboard‘s Independent Record label of the year award 5 consecutive years in a row.
There has been no official release from the label and it is not yet known what will Lil’ Jon’s album Crunk Rock. Aside from getting busted over the head with bottles, label titan, Pitbull recently urged his fans to stop buying his new album because Gottlieb was not promoting his album, the Boatload, correctly.