Penthouse Invests $500M In Group Of Social Networking Sites

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First Posted: 12-12-07 12:59 AM   |   Updated: 03-28-08 02:45 AM

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New York Times:

While the influx of free and low-cost video has hurt the sale of pornographic videos, the chief executive of the Penthouse Media Group remains so bullish on the sex-related entertainment industry that he is investing $500 million in a group of social networking sites.

Marc H. Bell, chief executive of Penthouse Media, said the company had acquired Various Inc. and its subsidiaries as part of a plan to expand its reach. Various operates more than 25 networking sites and says it has a member base of more than 260 million consumers, about 1.2 million of them paying subscribers.

Read the whole story: New York Times

While the influx of free and low-cost video has hurt the sale of pornographic videos, the chief executive of the Penthouse Media Group remains so bullish on the sex-related entertainment industry that...
While the influx of free and low-cost video has hurt the sale of pornographic videos, the chief executive of the Penthouse Media Group remains so bullish on the sex-related entertainment industry that...
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