You gotta love the music biz right now. According to allhiphop.com, TVT Records let go of a majority of its employees this week, and is expected to file for Chapter 11 in a few days.
This isn't the first time that the indie has seen trouble in the headlines. Way back in 2005 Lil Jon had a spat with the label's President, Steve Gottlieb, and this year the artist Pitbull told his fans that they should download his album for free rather than dish out money for it because he thought Gottlieb didn't deserve it. Is this a lesson of what comes around goes around, or is this just another record label caught in bad times due to the state of the industry? Either way it sucks and people are ending up jobless.