Ventura Entertainment Sells Assets to SCS Music

Ventura Entertainment Group in North Hollywood has sold certain assets of its music-production and publishing unit to SCS Music Ltd. for $1.1 million in cash and a $200,000 promissory note.

Ventura Entertainment, which also makes television programs, announced the sale in a filing with the Securities and Exchange Commission. It said SCS Music is a newly formed partnership and that Arthur Mogull, formerly president of the unit for Ventura, resigned to run the business for the partnership. In a separate SEC filing, the New York investment firm Networth Partners said it sold its 5.8% stake in Ventura Entertainment. Networth, which is controlled by Equimax Resources Inc., sold its 455,310 shares for $3.50 a share, or $1.6 million, the filing stated.