Penthouse
Reorganized Penthouse Changes Name; Guccione Out
Penthouse Media Group Inc. on Thursday said it emerged from Chapter 11 protection under the control of PET Capital Partners LLC. In related news, XBiz has learned founder Bob Guccione won't return to the magazine he founded 39 years ago.
Care Concepts Completes Penthouse Publisher Purchase
Former iBill purchaser Care Concepts I Inc. announced today that it had completed its purchase of Penthouse publisher General Media’s stock today, heralding another drastic drop in the company’s stock price.
Care Concepts Secures Funding for Penthouse Acquisition
Care Concepts I Inc. has successfully obtained the funding necessary to purchase almost half of the stock in Penthouse-publisher General Media, according to a release issued Friday. The announcement moves the now-bankrupt publisher one step closer to being reacquired by Penthouse International Inc.
Care Concepts Purchases Half of Penthouse Publisher
Internet auction firm Care Concepts I Inc., the company who recently backed out of acquiring payment processing company iBill, announced today that it has agreed to purchase a little under half the stock in Penthouse publisher General Media.
Australian Penthouse ‘Pet of the Year’ to be Chosen
The Australian Penthouse “Pet of the Year” 2004 will be selected on Sept. 7. The Pet of the Year party will celebrate the 25th anniversary of the Australian edition of the famed men’s magazine. Editor Graham Brown called Penthouse “Australia’s number one adult men’s magazine.”
Marc Bell Wins Control of Ailing Penthouse
A bankruptcy judge cleared a reorganization plan Thursday for General Media Inc., the publisher of Penthouse magazine. With its amended plan, Mexican investor Enrique Molina would lose control of Penthouse assets and give it to bondholders led by Florida investor Marc H. Bell.
With Beate Uhse Deal Killed, Penthouse Faces Emergency Asset Sale
In a stunning blow to the Penthouse empire, company executives Friday told a U.S. bankruptcy court judge that they may have to conduct an emergency asset sale next month.
Beate Uhse to Take 50% Stake in Penthouse
The operator of Europe’s largest chain of sex shops has struck a deal with Penthouse for half its stake. German sex-toy shop operator Beate Uhse AG will share ownership with Luis Molina, the Mexican investor who invested in Penthouse International Inc., which owns General Media Inc.
Mounting iBill Problems Sinking Penthouse
XBiz learned late Friday that Penthouse public shares would no longer be traded on the Over-the-Counter Bulletin Board and that its stock has been relegated to the Pink Sheets, a stock quotation service that handles high-risk ventures and isn't regulated by the Securities and Exchange Commission.
Penthouse Plan Pays Creditors in Full
The publisher of Penthouse magazine has filed an amended reorganization plan with U.S. Bankruptcy Court that pays creditors' claims in full. General Media Inc. said this week that up to $12 million in allowed unsecured creditor claims and the claims of holders of about $40 million in notes will be paid in full in cash.
IBill Sold to Penthouse International Unit
IBill, the largest processor of credit card payments for the online adult industry, has been sold to a subsidiary of Penthouse International Inc. The deal ends a chapter for credit card processor Intercept, which purchased iBill in 2002 for $104 million.
Hong Kong’s Penthouse Folds
With pornography becoming more available on the Internet, the Hong Kong edition of Penthouse has folded.
Penthouse Pulls Out Of Bankruptcy
After filing bankruptcy toward the end of 2003, General Media Inc., the publisher of Penthouse magazine, has tapped Seneca Financial Group for help
Penthouse Faces New Hurdles
Just as Penthouse is beginning to show signs of recouping after filing Chapter 11 in August, a group of creditors have emerged that could take control of Bob Guccione's porn empire
Penthouse for Sale
Bob Guccione's debt-ridden porn empire, a once-powerful icon of old-school print pornography, has faced tough times in recent months competing with the age of Internet porn