TLA Entertainment Group Acquired by Investment Firm Sterling Genesis International
PHILADELPHIA — 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.
“With fresh capitalization TLA will be able to flourish, build upon a strong infrastructure, and seize new opportunities in the current marketplace,” G. Sterling Zinsmeyer, Chairman of Sterling Genesis International, said.
Sterling Genesis President and CEO Derek Curl said that the acquisition’s potential for consolidation and global expansion will allow the company 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 said. "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."