Changes

In February 1999, TVT entered into a $23.5 million collateralized loan and management agreement with Prudential Securities, which included the master recordings and rights to ''Pretty Hate Machine'', among other materials. By June 2001, with the decline of the traditional music industry, the value of the material fell had fallen below the contractually mandated Debt Service Coverage Ratio, and TVT defaulted on more than $16 million outstanding on the loan. In August 2002, Prudential sued to foreclose on the collateral and was granted summary judgment in September 2003 (also upheld on appeal). [https://casetext.com/case/teevee-toons-v-prudential-sec-cred-corp] Prudential placed these assets up for auction, and when no suitable bid came in, they chose to retain the rights and licensed them to Rykodisc. ''Pretty Hate Machine'' and the "Head Like a Hole" single, which had been unavailable for a few years, went back in print in 2005.