Most of the staff at TVT Records have been reported to have been fired and as far as the artists go, a source close to the situation revealed.
TVT Records home to such artists as Yo Gotti, Lil Jon, Ying Yang Twins, Pitbull, Teedra Moses and others has been reported as planning to file Chapter 11 bankruptcy. As recently reported on MemphisRap.com, the label headed by Steve Gottlieb made headlines after Pitbull made public in an interview with Los Angeles radio station KPWR that he felt TVT Records was not promoting his album Boatlift. The rapper stated, "I'm out here working like a slave, doing things that other artists don't even know how to do. A label's there to further and promote your career, but it feels like they just keep holding me back."
Most of the staff at TVT Records have been reported to have been fired and as far as the artists go, a source close to the situation revealed according to Billboard, that Yo Gotti would most likely be one the artist picked up by a major.
"Yo Gotti is a prime candidate as a free agent to go...He's done his part as an artist, and although he's a little under the radar and people in New York don't know him that well, other majors like maybe Def Jam or Universal, whom he had a previous deal with, might want to pick him up," revealed the source.
Along with the label, TVT also has a music publishing company, TVT Music Publishing, which according to Gottlieb will not be closing. Gottlieb insists, "This is not the end of TVT."