The NY Post reports that TVT is on the block:
- TVT Records, the nation’s largest independent record company, is on the block, The Post has learned.
TVT, best known for discovering the band Nine Inch Nails, has held discussions with some major labels, but has not yet had any takers, according to sources familiar with the matter.
Steven Gottlieb, the president and founder of TVT, is actively shopping the label, sources say, and has approached Universal, Sony and BMG.
Company execs are hoping to fetch some $20 million in a deal.
But with the record industry’s current malaise, finding a deal has been tough for Gottlieb, who founded the company about 18 years ago.
Gottlieb says no deal is imminent, but acknowledged he has held talks about selling to one of the major labels.
“We’ve always had great relationships with the major labels,” Gottlieb told The Post. “We’re already in business with them in deep ways,” he added, referring to joint ventures and distribution deals.
“Being the largest and most successful indie label, it’s obvious that people are always talking to us,” he said.
While best known for discovering Nine Inch Nails – now on Universal’s Interscope label – TVT has also produced albums with rapper Snoop Dogg, the Black Crowes and Jimmy Page. Its best-known current acts are Lil Jon and The East Side Boyz.
The company generates roughly $100 million in annual revenues, according to sources.
It’s funny that th report doesn’t mention that “TVT” stands for “TeeVee Toons,” and that the label’s initial success came from the series of Televison’s Greatest Hits collections – too corny I guess. These collections of theme songs are classic and great for sampling. And of course NIN’s Pretty Hate Machine is one of the most important albums of the last 15 years, still Trent’s best and still selling, using machines to pry open the human heart.