TVT Records Pres Responds To Reports Of Label Bankruptcy

Steve Gottlieb made a statement concerning yesterday's news of major changes at TVT Records. After most of the staff was laid off and speculation about bankruptcy spread across the internet, many music fans were wondering what would become of current and future releases that were already in the works. According to a report on hypebot today, this is what Gottlieb had to say:

"We will continue to promote Pitbull f/Lil Jon’s ‘The Anthem,’ which goes Top 10 at Rhythm this week. Ying Yang Twin’s ‘Drop’ is #32 hip-hop track on iTunes despite it Tvt only being at mix show.""We have been an agent of change, most notably fighting for respect for independents when most major media and trade outlets minimized their role, and fighting for industry change in the digital arena whether in our breaking ranks and settling with Napster in 2001, or in numerous other initiatives. I am optimistic that the company’s independent spirit, history of innovation and willingness to pioneer new music and new business models are more valuable in this marketplace than ever before and that we will emerge from this reorganization a stronger more vibrant entity."

hypebot also reported that the publishing arm of TVT will not be affected.For yesterday's report, go here:http://mog.com/dj_ivi/blog_post/145392