Eirik Solum
Purple fan
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Registered: 09-2004
Posts: 862
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SPV Bankruptcy
The other day I got some inside info about Whitesnake/ GTBB and the SPV bankruptcy.
I was told that a important and final reason for the bankruptcy was the advance WS/ DC was payed to do Good To Be Bad. The SVP guy is a huge WS fan and out bid every one else, including big and major labels that actually really wanted the new WS album, but they could not match his never ending bidding. The check ended up on 1 million dollars sharp.
And even if the album did well, it could not bring back enough to make up for the expenses and the 1 mill. on top. That was the last drop that ended in bankruptcy..
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3/9/2009, 14:52
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Wojak
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Registered: 01-2004
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Re: SPV Bankruptcy
Umm... not sure this is entirely true. SPV were in trouble (according to my sources) before WS were signed and DC has already started legals to recover money... if he has already received 1 mil, he wouldn't be owed a huge amount at this stage would he?
If the album sold 250,000 copies worldwide (I think it did at least that) then SPV would have received at least 1.5 mil back after production and packaging costs.
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3/9/2009, 15:46
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Eirik Solum
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Re: SPV Bankruptcy
They where definetly in trouble, but as I understood, it was the WS deal was the big and final drop.
And there are far more costs than production and packaging. It is NCB costs (quite a lot if you print 250 000) and not least paying the staff working with the album - promo, distribution etc.
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4/9/2009, 8:03
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