Penthouse Files For IPO
Penthouse has filed with the SEC for a $250 million IPO. Launch date is the second quarter of 2008 and they’re hoping to recoup the debts they incurred in acquiring adultfriendfinder.com. Over at Folio, they’re noting that these are tough times for men’s magazines — Playboy is expecting a 30% decline in advertising revenue during the first quarter of 2008. But paidContent went into the Adultfriendfinder stats:
“Penthouse Media Group says it plans to use the proceeds of its just-announced $250 million IPO to pay down its debt.
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