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NEW YORK - Adult entertainment company Penthouse Media Group Inc said it bought the owner of sex matchmaking site AdultFriendFinder.com for US$500 million in cash and securities.
Penthouse bought Various Inc, which operates in total more than 25 online communities with a combined member base of some 260 million people. Its AdultFriendFinder site has more than 18 million members.
Penthouse estimates combined 2007 revenue after the deal of $340 million.
The flagship Penthouse magazine was formerly owned by Penthouse International, a holding company behind movies, online entertainment and nightclubs.
The magazine is now published by a unit of Penthouse Media Group, formerly known as General Media Inc, that was reorganised under financier Marc Bell.
- REUTERS
