Official Michael Fomkin Blog

  • 03:50:11 pm on March 30, 2007 | 0

    The new owners plan to give entertainment wannabes a chance at fame and fortune.
    By Helen Huntley
    St. Petersburg Times
    The rest of Lou Pearlman’s Orlando empire may be in shambles, but the show will go on for wannabe singers, dancers, actors and models. Pearlman’s Talent Rock business has new owners, who plan to keep sponsoring talent expos that give aspiring young artists a chance to learn about show business, compete for trophies and meet agents who can help with their careers.
    The transaction won’t do much for investors who are out $317 million in what state officials say was a huge Ponzi scheme that supported Pearlman’s businesses and his lavish lifestyle.
    However, a March 23 court-approved sale does help several hundred people who put down deposits on Talent Rock events and probably would have lost their money otherwise.
    A cruise planned for this summer has been canceled, but owners of the new Talent Rock Holdings said they will apply deposits toward a December program at Walt Disney World or another event.
    Camino Ventures paid $175,000 for Talent Rock, the primary asset of a Pearlman company known as Fashion Rock that is now in receivership along with a dozen other Pearlman entities.


    Tags: business | talent | PEARLMAN | Orlando | entertainment


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