The Orchard buying TVT Records for a rumoured $6.05m
Digital distributor The Orchard has emerged as the winning bidder in the auction for the assets of bankrupt label TVT Records, reportedly paying $6.05 million. The Orchard will now assume control of TVT’s master recordings, artist contracts and physical distribution infrastructure, but not its music publishing subsidiary.
That means artists including Lil Jon and the Polyphonic Spree are now effectively signed to The orchard. Meanwhile, TVT Records president Steve Gottlieb will focus on the devolved publishing arm.
Tags: Buyout, The Orchard, TVT
