Penthouse Becomes Largest Global Adult Entertainment Company; Penthouse Magazine Acquires Internet Social Network Giant Adult Friendfinder for $500 Million
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.
Boca Raton, FL (PRWEB) December 12, 2007 -- 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 www.friendfinderinc.com for more information.
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