BOCA RATON, Fl. - Penthouse Media Group Inc., the parent company of Penthouse Magazine, announced Wednesday that it has acquired Various, Inc., the parent company of AdultFriendFinder, and its subsidiaries for $500 million in cash and securities.
The company projects $340 million in combined revenue in 2007. Various has a total paid subscriber list in excess of 1.2 million, according to Penthouse, and operates more than 25 online communities.
"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."
"We are excited to be combining our substantial internet presence with one of the most recognized adult entertainment brands in the world," said Lars Mapstead, vice president of marketing for Various, Inc. "Together we will expand in many areas, both online and offline, to solidify our position as the world leader in adult entertainment."
Penthouse previously acquired Danni.com and the Jill Kelly Productions library in separate 2006 transactions.
