PHILADELPHIA, PA—TLA Entertainment Group, Inc. (TLAEG) announced today that the company has been acquired by New York-based investment firm Sterling Genesis International, LLC. The sale includes all direct-to-consumer brands and all digital properties, including adult retail properties TLARAW.com and TLAgay.com.
G. Sterling Zinsmeyer, Chairman of Sterling Genesis International said, “With fresh capitalization, TLA will be able to flourish, build upon a strong infrastructure, and seize new opportunities in the current marketplace."
Derek Curl, Chief Executive Officer and President of Sterling Genesis, said, “With this acquisition’s potential for consolidation and global expansion, we will be able to realize even further the tremendous value TLA Entertainment Group has in the entertainment world.”
Erik Schut will continue as managing director of TLAgay.com while TLA's General Manager, Brian Sokel, has been named Executive Director of TLA Entertainment Group responsible for all direct-to-consumer divisions of the company.
"This acquisition provides TLA the financial stability to adapt to an ever-evolving adult entertainment landscape," Sokel stated. "More importantly, it will allow us to jump-start growth in a stagnant market, streamline operations and re-focus our energies on our studio relationships and direct-to-consumer marketing efforts. It is a very exciting time."
About TLA Entertainment Group:
TLA Entertainment Group, based in Philadelphia, is a privately held corporation founded in 1981. The company began as owners of the Theatre of the Living Arts (TLA), a repertory cinema as well as the Roxy Screening Rooms. In 1985, it opened the first of several award-winning video stores in the Philadelphia area and in New York City. In 1996 it launched tlavideo.com, a direct-to-consumer movie site that has since expanded into the sale of DVDs and most recently, VOD. In 2000, it launched TLA Releasing, a film and video releasing company for North America. In 2005, it opened a British distribution company based in London. Today, TLA Entertainment’s primary business remains as a DVD and VOD e-tailer through its many sites including TLARAW.com, TLAgay.com, TLAmovies.com andTLAcult.com. Films that TLAEG has distributed include Latter Days, Another Gay Movie, and Mysterious Skin.
About Sterling Genesis International:
Founded in 2013, Sterling Genesis International, LLC, is a private investment firm based in New York City, focused on global media, entertainment, distribution and communications investments. The company is led by Chairman & COO G. Sterling Zinsmeyer, and President & CEO Derek Curl. In addition to a background in finance, Zinsmeyer has executive-produced several films, including Latter Days, Adam & Steve, and The Deception.
