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La Toya Jackson is denying published reports that she has signed her late brother's children to her talent management agency and is managing their careers.

The New York Post reported Sunday that Jackson, 56, had signed Michael Jackson's children, 16-year-old Prince, 14-year-old Paris and 10-year-old Blanket, to Ja-Tail Enterprises, a talent agency which reportedly has no other clients.

The story also claimed that Jackson gets a 15 percent commission on each deal she negotiates for the three children, and that bidding for a reality TV series featuring the children and the family matriarch, Katherine Jackson, had approached $10 million.

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La Toya Jackson sharply rejected the claims. In a statement she labeled the Post's story "completely and unequivocally false" and said she was she seeking legal advice.

The statement added that Jackson provides the children advice and support but further said: "Neither La Toya nor her company represent any of MJ's children in any legal capacity nor has she received any commissions or payment as a result of their individual ventures."

Read La Toya Jackson's full statement below.

She also denied shopping a reality show for the three children, but said in the statement that she had been "diligently" assisting Prince with his career at his request. Prince Jackson is a special correspondent on "Entertainment Tonight" and also has a guest-starring role in the series finale of "90210? on the CW.

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Custody of Michael Jackson's three children and a dispute over his estate led to a very public feud in the family last year.

MORE: Who Are the Players in Michael Jackson Family Feud?

"Life With La Toya," a reality show starring La Toya Jackson, will premiere on the Oprah Winfrey Network later this year.

La Toya Jackson's Full Statement

"The story in the NY Post is completely and unequivocally false. Neither La Toya nor her company represent any of MJ's children in any legal capacity nor has she received any commissions or payment as a result of their individual ventures. As a loving Aunt, when the children ask for help or advice she supports them 100%, and will continue to do so.

Furthermore, there is no shopping of a reality show for the children. Paris did her movie deal over a year ago directly with the production company and La Toya had nothing to do with it. Over the past year Prince has continuously asked his Aunt for her help in starting his career because of the infrastructure she has. When she asked her nephew what he wanted for his birthday he replied, "He just wanted to work," It was at the time that she diligently started to assist him with his career and that's when Entertainment Tonight was booked and then 90210.

La Toya is currently consulting with her attorneys on how to proceed against these false and derogatory statements made by the NY Post and other participating publications."