IO NewsWire

August 22, 2011 14:30 ET

X-Change Pushing Its Way Into the $10+ Billion Urban Entertainment Market

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO NewsWire

NEW YORK, NY--(Marketwire - Aug 22, 2011) - X-Change Corp (OTCQB: XCHC) announced they have moved into an asset purchase agreement with Old West Entertainment. Old West Entertainment specializes in music, feature films, television, home video/DVD and events.

In an August 2011 article, Forbes ranked the top 20 hip-hop earners. The list, unheard of 20 years ago, now tops over $265 million annually with a net worth of over $1.5 billion for the top 5.

In recent years, several urban based companies have sold for large sums. Phat Farm, started by hip-hop mogul Russell Simmons was sold to Kellwood for $140 million in 2004. Then, in 2007 Rocawear, an urban brand name started by rapper Jay-Z, was sold to Iconix (NASDAQ: ICON) for $204 million in cash.

For more information on X-Change, please visit

Other active stocks are Polo Ralph Lauren Corp (NYSE: RL) Coach, Inc (NYSE: COH)

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