TVT Bankruptcy

Billboard reports:

TVT Records, once hailed as Billboard's top independent label and home to artists such as Lil Jon, Pitbull and Ying Yang Twins, will file for Chapter 11 bankruptcy this week, company head Steve Gottlieb tells Billboard.com. "This is not the end of TVT," he insists.

Rolling Stone reports that the label fired the majority of their staff.

EMI to Cut 1/3 Jobs; Drop Artists; Restructure

EMI, the "major" label behind such artists as The Beatles, Norah Jones, and Coldplay, announced that it will cut 1/3 of its work-force and begin dropping artists. A major label, DROPPING ARTISTS!

Once Terra Firma, the private-equity group that bought EMI last year for £3.2 billion ($6.26 billion), acquired the label, this move seemed inevitable. But ultimately, how far back can this restructuring of the music business be traced? Napster? Has this been in the works since 1995, with the commercial release of the first Internet web-browser (Netscape)?

OTCS invites any employee of EMI to post comments regarding the move, and what life at EMI has been like since Terra Firma took over.