Nine Inch Nails Album 'Pretty Hate Machine' Set for Re-Release
Original TVT master recordings by Nine Inch Nails, Gravity Kills and other TVT artists have been acquired by a Los Angeles-based music publishing firm called Bicycle Music. As part of the deal, the firm claims ownership of more than 700 masters, or roughly 80 albums worth of material.
Other recordings obtained through the deal include albums produced by the Connells and the 'Television's Greatest Hits' compilation series. The deal also includes co-publishing rights to the Nine Inch Nails catalog, from 'Pretty Hate Machine' all the way through 2007's 'Year Zero.'
Bicycle Music plans on re-issuing 'Pretty Hate Machine' as both a physical and digital release. There's no word yet on when the LP will get the re-issue treatment, but insiders predict it could be within the next nine months.
TVT's troubles first started back in 1999, after Prudential provided a $23.5 million loan, backed by a portion of TVT's pre-1994 catalog. The asset-backed financing was in the form of a 10-year loan, and was cut towards the end of the industry's boom years. TVT paid more than $10 million towards the loan, but revenue from the assets used as collateral was suffering due to the decline of the overall music industry. That forced the label to use its own funds to make up for the cash shortfall. They defaulted on the loan in 2002.