Malm grew up in Cleveland and completed a degree at Denison University in Mass Media Communications, with a minor in film.
After graduation, Malm worked in his family's machine equipment business by day and by night was a part-time promoter of local music acts, including the Exotic Birds, Lucky Pierre and System 56.
[2] NIN's first album Pretty Hate Machine was a great commercial success, but due to creative interference from TVT, Malm and Reznor decided to terminate the record deal.
Nothing Records went on to release many NIN releases and later became a stand-alone record company, signing and developing its own artists, including Marilyn Manson and Prick while also offering label support or distribution to established bands such as Autechre, Meat Beat Manifesto, and Pop Will Eat Itself.
In 2004, Malm filed suit in the United States district court of Ohio against Reznor for over $2 million in deferred commissions.
[3] Weeks later, Reznor filed a countersuit in the U.S. District Court of New York, charging Malm with fraud and breach of fiduciary duties.