Penthouse Becomes Largest Global Adult Entertainment Company
BOCA RATON, Fla., Dec. 12 /PRNewswire/ -- Penthouse Media Group Inc.,
parent to Penthouse Magazine, one of the world's leading men's lifestyle
publications and producers of online, licensed and broadcast content and
materials, announced today that it has acquired internet social networking
giant Various, Inc. and its subsidiaries for $500 million in cash and
securities. With $340 million in projected combined 2007 revenues, this
acquisition makes Penthouse the largest adult entertainment company in the
world.
Various has an extensive affiliate network, as well as a rapidly
growing member base of more than 260 million consumers and a total paid
subscriber list in excess of 1.2 million. Various operates more than 25
online communities including adultfriendfinder.com, which is a top 50 Web
site nationwide. Adultfriendfinder.com is one of the most highly trafficked
Web sites in the world with more than 18 million members.
"We are very excited to welcome Various and its employees as a part of
the Penthouse family," said Penthouse Media Group CEO Marc H. Bell.
"Various is an attractive addition to our already strong print platform,
and one that puts Penthouse in a very robust position in the ever-growing
online social networking arena. We like where the business combination puts
us and that this transaction will enhance PMGI's current and future
licensing, print and interactive ventures."
"We are excited to be combining our substantial internet presence with
one of the most recognized adult entertainment brands in the world," said
Lars Mapstead, VP of Marketing for Various, Inc. "Together we will expand
in many areas, both online and offline, to solidify our position as the
world leader in adult entertainment."
The transaction is the latest step in Penthouse's expansion march, with
the company having previously acquired Danni.com and the Jill Kelly
Productions library in separate 2006 transactions. Penthouse is continuing
its acquisition program as it continues to consolidate the industry into
one global brand.
About Penthouse Media Group Inc.
Penthouse Media Group Inc. is an international, multimedia
entertainment company. Its flagship publication, Penthouse Magazine, was
founded in 1965. Penthouse is globally recognized as one of the premier
men's entertainment and lifestyle brands and publishes a widely circulated
group of publications. The company also operates numerous adult
entertainment and social networking Web sites and provides adult video
entertainment, as well as a broad array of products and services via its
numerous national and international licensees.
About Various, Inc.
Palo Alto based Various, Inc. is the trend-setter in the online
personals sector, distinguished by its creative marketing programs and
technological innovation. The company has developed dozens of owned and
operated sites along with many popular co-branded partner sites. Its
holdings include FriendFinder Network, Inc., a group of multi-cultural and
multi-lingual dating, social networking and personals websites;
AdultFriendFinder.com and similar venues for more intimate social
networking such as Passion.com, alt.com and outpersonals.com; and
Streamray, Inc., with its popular video chat site Cams.com. Visit
http://www.friendfinderinc.com for more information.
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