Scott Storch’s manager buys his ENTIRE music catalog for $7,000? Or is it $7,000,000?

scottie

Not only did the Miami New Times score a monster of a story by interviewing the people in the scenes of Scott Storch’s personal life (like his mother and grandfather), but apparently Storch’s manager purchased the rights to the entire publishing catalogue that was once Scott Storch’s. Apparently his manager’s company sent out a press release that mistakenly stated the catalogue was purchased for $7,000, but the actual number was $7,000,000 (million) and was corrected with a corrected press release sent out soon after. Read the press release below…

CORRECTION – Bluewave Group, Inc. Has Negotiated a LOI for Long-Term Publishing Deal on Behalf of Scott Storch

FORT LAUDERDALE, FL, Apr 20, 2010 (MARKETWIRE via COMTEX) —-In the news release, “Bluewave Group, Inc. Has Negotiated a LOI for Long-Term Publishing Deal on Behalf of Scott Storch,” issued earlier today by Bluewave Group, Inc. (OTCBB: BLEW), we are advised by the company that the third sentence of the first paragraph should read “Bluewave Group has negotiated a LOI which provides for Bluewave Group to take ownership of Mr. Storch’s writer’s share for $7 Million” rather than “Bluewave Group has negotiated a LOI which provides for Bluewave Group to take ownership of Mr. Storch’s writer’s share for $7,000″ as originally issued. Complete corrected text follows.

Bluewave Group, Inc. Has Negotiated a LOI for Long-Term Publishing Deal on Behalf of Scott Storch

FORT LAUDERDALE, FL — April 20, 2010 — Bluewave Group, Inc. (OTCBB: BLEW) today has announced it has the exclusive rights to negotiate a long-term publishing deal for Scott Storch’s publishing catalog, which has furnished many hit records to the world. The catalog is filled with songs written by Beyonce, 50 cent, Dr. Dre, and Justin Timberlake to name a few. Bluewave Group has negotiated a LOI which provides for Bluewave Group to take ownership of Mr. Storch’s writer’s share for $7 Million. Bluewave Group President Derek Jackson said, “I believe that Scott is an amazing song writer and a dynamic creative mind. We’re enthusiastic over the magnitude of this catalog and our expectation that it will be purchased at its true market value.”

Illustration and story via The Miami New Times

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