Scott Storch's Manager Buys his Music Catalog for $7 Million
This is either a bail-out from a buddy or a very shrewd buy-low purchase. Just as "Blow Hard", New Times' feature on bankrupt megaproducer Scott Storch, is filling newspaper boxes, his manager's company announced that it was buying his music catalog for $7 million.
His manager Derek Jackson, president of the Fort Lauderdale-based Bluewave Group, Inc., was quoted in the press release yesterday. The cash infusion might help Storch cover legal fees and potential judgments stemming from the 28-plus civil lawsuits he's been hit with in the last four years.
Also: The press release company had to publish a correction after they initially reported that Bluewave bought the catalog for $7,000, which made us chuckle.
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