Despite filing bankruptcy, TVT Records will still promote their artists as planned.

TVT's 2008 releases consists of Lil Jon's Crunk Rock and a Ying Yang Twins album.

"I believe that we will emerge from this reorganization a stronger entity," said TVT founder and President Steve Gottlieb. "Our history of innovative marketing, creative branding and artist discovery are as much in demand today as ever before. The downturn in the music business has affected all of us, independents and majors alike. We all seek to adapt to a new business model."

TVT also plans to sell its distribution platform, and possibly enter into a partnership with several digital companies.