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Penthouse plans $250 million IPO

These are hard times for Penthouse-- huh, you'd think that would be a good thing for the magazine.

No, Penthouse Media Group said it plans to register with the SEC for an initial public offering during 2008's second quarter. Revenue from the $250 million IPO will cover debt from the group's purchase of AdultFriendFinder.com last December.

Playboy magazine said its advertising numbers are down significantly.

(Insert joke about the porn industry's financial downturn and Viagra here.)

Posted by at March 7, 2008 4:10 p.m.
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