New York, NY (Top40 Charts/ GenX Corporation)- GenX Corporation (PINKSHEETS: GNXO) - I.I.A.M.G., Inc., who has the exclusive rights to negotiate the sale of Scott Storch's publishing catalog, is now actively seeking a buyer. The catalog is filled with songs written by Mariah Carey, Beyonce', Chris Brown, 50 Cent, and Justin Timberlake to name a few. IIAMG is Mr. Storch's sole and exclusive agent for any negotiation and sale of his Intellectual Property Rights. IIAMG will negotiate on Scott's behalf to sign over half of its copyright ownership in exchange for administrative and business functions in connection with the compositions. This includes registering the finished compositions with the U.S. copyright office, soliciting individuals and companies who will license the compositions, secure licensing payments, and ultimately pay the agreed upon portion of the income generated to Scott Storch. John Menneci of Gelfand, Rennert and Feldman, LLP appraised Scott Storch's catalog at $20 million dollars. IIAMG President Derek Jackson said, "Scott is an amazing song writer with hundreds of hit compositions. We look forward to soliciting potential partners to purchase the catalog at its true market value." IIAMG intends on closing this deal. Considering the fact that this catalog is highly sought after, IIAMG will be selective in its negotiation process.
|