Ventura Entertainment Sells Music Division

Ventura Entertainment Group Ltd., a North Hollywood television and film production company, said it completed the sale of its Music Group division to a partnership formed by New York financier Stephen C. Swid for $1.3 million in cash and notes. Ventura also received a 7% stake in the partnership that bought the division. Arthur Mogull, president of the division, resigned his position with Ventura in order to become president of the new partnership.

In the last year and a half, Swid, who is chairman of SCS Communications, has bought a number of small and medium-sized entertainment and media companies, including Westview Press, a college textbook publisher, and Cinecom Entertainment Group, an independent film producer. He has also acquired a controlling interest in Spin magazine, which follows pop music.