TotallyOz Posted December 13, 2007 Posted December 13, 2007 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." http://sev.prnewswire.com/publishing-infor...12122007-1.html Quote
