LocaKitty (locakitty) wrote,
LocaKitty
locakitty

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OH NOES!!!

On August 17 Nine Inch Nails fans will have an opportunity to score the ultimate collector's item — the ownership rights to Trent Reznor's groundbreaking debut, Pretty Hate Machine. Yes, kids — you could own tracks like "Down in It," "Something I Can Never Have" and, of course, "Head Like a Hole," but it's going to cost you millions. The disc is one of several TVT Records titles on the auction block, compliments of Prudential Securities Financial Services. Pretty Hate Machine and numerous other recordings from the likes of KMFDM, Sister Machine Gun and Gravity Kills were presented as collateral in 1999 against a $32 million loan the label was approved for. TVT managed to pay back $10 million of that amount, but Prudential took the label to court three years ago, claiming the current home of the Ying Yang Twins defaulted on the loan. Pretty Hate Machine is part of an overall biddable package that also includes the rights to the Television's Greatest Hits compilations and the "Mortal Kombat" movie soundtracks. In addition, the highest bidder will be able to collect a percentage on future sales of Nine Inch Nails' other TVT-related releases, including Broken, Fixed, The Downward Spiral and Further Down the Spiral. ...
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