Home > News > Private Media Group Gives Up Sureflix as Part of Settlement • Bookmark   • Newsletters   • Register Search Options


Private Media Group Gives Up Sureflix as Part of Settlement

Private Media Group Gives Up Sureflix as Part of Settlement
Get XBIZ News
Jul 9, 2012 5:00 PM PDT    Text size: 

TORONTO — Private Media Group has divested itself of its Sureflix Digital Distribution division, releasing the gay adult company to its original ownership as part of a settlement agreement.

The deal settles claims made by shareholders Eric Johnson, Erik Schannen and Michel Lozier alleging Private Media Group made material misrepresentations to induce the o­riginal owners into a deal to acquire it, as well as other allegations.

Sureflix of Toronto was acquired by Private Media Group in October 2009. Sureflix operates a network of gay pay-per-view VOD websites and supplies gay adult programming under the MaleFlixxx brand.

"Pursuant to the settlement agreement, the company transferred back to Messrs. Schannen, Lozier and Johnson all of the outstanding capital stock of [Sureflix]," Private Media Group said in a statement.

Private Media Group said that Johnson, who led Private during receivership, will remain as a director on the company's board.

In late May, Private Media Group also agreed to give up its GameLink division as part of a settlement deal with former Private Media Group CEO Ilan Bunimovitz and a number of investors.

Private Media Group transferred all of the outstanding stock in GameLink's operating parent companies ThinkForward Inc. and GreenCine Inc. to Bunimovitz, as well as investing shareholders Andrew Sullivan and Peter Marinac.

Both the GameLink and Sureflix settlement agreements culminate several years of wrangling in Nevada courts between Consipio Holding BV investors and Private Media Group. Plaintiff shareholders had claimed the company had been rocked by embezzlement, among other charges, from moves made by former CEO Berth Milton and former directors. In the end, the company changed its front office and board of directors.

Charles Prast, the current Private Media Group CEO, and Johnson both were unable to be reached for comment Monday evening by XBIZ.



More ways to get XBIZ News:  RSS Feeds  |  E-Newsletters  |  Desktop Widget  |  Mobile
Looking for porn star news and behind-the-scene videos? Check out XFANZ.com !


The Skinny on the New DMCA Requirement

The requirements under the Digital Millennium Copyright Act (DMCA) have changed, but the sky is not falling. We have, even as a law firm, been hit with an unbelievable amount of spam sent out by law firms... More »

2017 Outlook: Legal Matters Around the Corner

The adult entertainment business’ legal community recently weighed in the top issues that companies and the industry, as a whole, should be concerned about. XBIZ asked industry attorneys to discuss... More »

Fraudulent Brazilian Trademark Registrations Running Rampant

Although you might not think often about protecting your trademark rights in Brazil, you need to — even if you don’t yet have a single Brazilian customer. Scammers are constantly looking for... More »
Stay informed of the latest industry developments. Get XBIZ newsletters delivered to your inbox. Subscribe today!
Enter email address:

* To manage existing subscriptions click here.

Submit your press release to
multiple news outlets with 1 click.
Subscribe to RSS news feeds or
add free content to your website.
Access XBIZ news and articles
with your mobile device.
Subscribe to XBIZ Premiere magazine, the industry's leading adult retail trade publications, delivering the most timely and comprehensive business news and information to producers and retailers of adult products.



Mar 31 - Apr 02
Denver, CO.

Eurowebtainment 2017

May 17 - May 20
Majorca, Spain

XBIZ Retreat

May 30 - Jun 03
Miami, Florida

XBIZ Miami 2017

May 30 - Jun 02
Miami, Florida
Everyday thousands of business professionals browse XBIZ's industry directory for quality products and services. Not listed yet? Your company could be losing potential new business. Submit your company today!
Use XBIZ RSS feeds to stay informed of the latest industry developments or as a content syndication tool for your website!