Originally Posted by BEN FROM HOLLAND
(Post 14840918)
Award-winning studio Metro Interactive has been sold to Zeist Technologies (Z-Tech), an Amsterdam-based adult content provider headed by former Interclimax CEO Ben Jelloun.
Jelloun told AVN the deal has been in the works since this summer. The acquisition includes Metro's operations in Chatsworth, Calif., and worldwide distribution rights to the company's extensive library of adult movies.
"I look forward to this tremendous opportunity to maximize Metro?s substantial assets and resources and build on its position in the adult entertainment industry," said Jelloun, the chairman and CEO of Z-Tech. "I am extremely excited about Metro?s future prospects and its growth potential as new media platforms are created."
Z-Tech plans to change the company name to Metro Content, LLC to reflect a new business plan emphasizing internet and content sales. The new owners will continue with DVD distribution and video production at Metro 's Chatsworth headquarters.
"I am happy to turn over the company to Mr. Jelloun, who I am sure will take Metro to a whole new level," said Metro founder Kenneth Guarino. "The business is changing rapidly, and given the current economic conditions, it requires a global business plan that maximizes ancillary revenues for continued success. Metro has built a very diverse and extensive library over the years and continues to release quality product, and I feel that Jelloun will manage and build on this foundation, maximizing Metro to its true value potential."
Jelloun formed Z-Tech this year with a group of foreign investors. He stepped down from his position as CEO of Interclimax at the end of September and will now focus fully on Metro.
The new Metro chief brings 12 years of business experience in adult entertainment to the position, specializing in internet traffic generating techniques, internet content sales through affiliates, and brand recognition via the internet. Under Jelloun's leadership, Interclimax grew to become one of the world leaders in adult internet products including live streaming video.
"I have lots of new and unique product ideas for Metro and because of Metro?s foothold in the marketplace, I will be able to hit the ground running," said Jelloun. "The transition should be seamless. All employees and management will stay in place, and our sales department will continue to be led by Russell Pascale, whose 20 years in sales will be key to Metro?s future growth.?
Metro's library encompasses a variety of acclaimed adult video lines including Cal Vista, Video Team, Fusxion, Loaded Digital, and Toxxxic. The studio recently launched a gay line, Badlands Pictures.
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