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.
If you like this story, consider signing up for our email newsletters.
SHOW ME HOW
You have successfully signed up for your selected newsletter(s) - please keep an eye on your mailbox, we're movin' in!
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.