John Rutherford Files For Bankruptcy, Future of COLT Studio Group Uncertain

Even if you may not like hearing it from the likes of Damon Kruzer, he's dead on (and was the only one to report on it to the best of my knowledge): Prowest Media, the company that has a controlling stake in COLT Studio Group, along with noted gay porn director John Rutherford and Tom Settle have filed for bankruptcy protection. According to Gay. Porn. Truth:

"The stunning news of last week's bankruptcy filing by Colt's parent company Prowest Media, as well as that of it's owners, partners John Rutherford and Tom Settle, put into perspective the impossibility of the Colt deal, and the on-going effects of the Great Recession on the gay porn business. Combine that with the other trend-setting events of the week, and the gay porn business has been rocked like the San Francisco earthquake. Faced with the imminent trial from the Jim French breech-of-contract lawsuit against Prowest et al, Rutherford and Settle made a last bid effort to try and retain control over their company, get relief from their debts, and give them some hope of salvaging their business. Prowest was placed into Chapter 11 (typically a re-structuring) while Rutherford and Settle filed for Chapter 7 (liquidation)."

There's a shitload more to this story but, hey, who cares when Samuel Colt and Chris Porter are seen at Walt Disney's Tilt-a-Prostate and so it's hard to get past the absolutely historic fucking nature of what's happening. But in all fairness, there is still A LOT to be dismantled over the next couple of days. I'm going to speak with some veterans and get a take on  what happens next. Does COLT Studio Group remain a viable entity? (After all, they have a remarkable vault of content.) Will they sell it - or have to sell it? Stay tuned, this is still developing and very under the radar if any of the top gay porn news sites are to be believed. And there is still a lot to be answered. Maybe not as much as in the break up of John and Kate Gosselin but this is anal penetration and fisting not kids and custody fights.

 

(Look, ma, a colored at COLT Studio group.)

Comments

[Tré Xavier]

With COLT studios being one of the many culprits showing a lack of diversity in their casting (which lessens how remarkable a vault of content they have in my book), should we really care what happens to them? I damn sure don't

Good riddance as far as I'm concerned. It's long overdue. Who's next to make me smile by bidding us REAL American porn viewers a well-deserved adieu?

[Allicide]

I guess Buddy Profits didn't mean profits for Colt. Falcon should remember that now that they have signed on with them.

[Mr D,]

I hate to see Colt go, but they do need to change a little and stop being so stuck-up. I long for the vintage days of Colt when the films are classy.

[Steve]

Another case of rumors going out of control! Colt isn't going anywhere - Chapter 11 is simply a reorganization and nobody knows the whole truth, but the players. So, feeding the shark frenzy. I think john Rutherford and his partners at Buddy Profits have much more up their sleeve. Just wait!