YNOT – Weeks of rumor and speculation ended Wednesday with Nick Orlandino’s confirmation that his Giant Media Group has acquired adult studio Devil’s Film. Orlandino is the chief executive officer of Chatsworth, Calif.-based Pipedream Products Inc., one of the largest manufacturers and distributors of adult novelties in the U.S.

The deal, described by Orlandino as a “passive investment and completely independent of Pipedream,” gives Giant Media complete control over the studio’s catalog and day-to-day operations. All of Devil’s Film’s current management and staff will remain intact following the transition, a statement announcing the acquisition noted.

A few staff promotions have occurred, however. At the completion of the buyout, which took place April 4 with Giant assuming control April 5, Eric Gutterman assumed the role of vice president of operations and Steve Volponi assumed the role of vice president of sales and production.

Keith Repult, the former owner of the studio, has retired from the adult industry to focus on other business endeavors.

Orlandino expressed confidence in the Devil’s Film team. He also said he expects his several decades of experience as an executive in the adult novelties sector will translate to content production.

“I’m excited to have such a great team in place to run the company, as Pipedream consumes most of my time,” Orlandino said. “I look forward to seeing what Eric and Steve can do, and I can’t wait to get the ball rolling.”

In addition to receiving numerous awards and accolades for business acumen, Orlandino has been recognized for philanthropy and community service. He served as the Free Speech Coalition’s treasurer for four years and founded the Frank N. Orlandino Scholarship Foundation, a nonprofit organization providing tuition assistance for students with financial difficulties. In 1996, he founded the Adult Novelty Manufacturers Expo, the industry’s first trade show, which he continues to manage.

Devil’s Film’s online presence is managed by affiliate program FameDollars, a division of Montreal-based Gamma Entertainment. By press time, neither company had returned a request for comment about whether the studio’s new ownership might affect the business partnership.