New York-based investment firm Sterling Genesis International has acquired TLA Entertainment Group.
The deal covers direct-to-consumer brands and all digital properties, including tlamovies.com, tlavideo.com, tlagay.com, tlacult.com and tlaondemand.com.
Derek Curl [pictured], Chief Executive Officer and President of Sterling Genesis, will become CEO and President of TLAEG.
TLA Releasing, owned separately by Curl, will be reintroduced into the TLAEG as part of the acquisition.
G. Sterling Zinsmeyer, Chairman of Sterling Genesis International, will become Chief Operating Officer of TLAEG. Zinsmeyer said: “TLA’s powerful worldwide brand awareness, together with fresh capitalization, will enable us as a company to continue to flourish, build upon a strong infrastructure, and seize new opportunities for digital expansion in the current marketplace.”
“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,” added Curl.
TLA Entertainment Group’s current General Manager, Brian Sokel, will move into a senior management position and Jo Borasky, current Controller, will serve as CFO to aid in a successful transition for the company.
Eric Moore, a founding partner of TLAEG, who will stay on as the new group’s Chief Technology Strategist, said, “I am excited about the new possibilities Sterling Genesis has brought to the table and I am eager to begin implementing their new vision.”