That deal fell through.įriendFinder said in court papers it plans to issue cash and new debt to holders of $234 million of first-lien notes. In 2010, the company offered to buy rival Playboy Enterprises for $210 million. ( Read more: Porn group lifting HIV-prompted filming moratorium)Ī year later it filed with regulators to raise $460 million in an initial public offering, but when it finally completed the IPO in 2011, FriendFinder had raised just $46 million. and its dating websites from Conru and Mapstead for $400 million. The company was formed by Marc Bell and Daniel Staton in 2003 when they acquired out of bankruptcy the publisher of Penthouse, Guccione's racier rival to Playboy. You can find magazine back issues about nearly every subject you desire. No reason was given.įriendFinder has not turned in a net profit since at least 2008, according to Thomson Reuters data. Penthouse Magazine May / June 2022 Trippie Bri &Alex Kay. Shashoua also said credit card companies had refused to process transactions for the company's Internet businesses. Some of that drop was offset by a 7.8 percent rise in live interactive video revenue.Įzra Shashoua, the company's chief financial officer, blamed the lower revenue on a drop in membership and increased advertising costs for affiliates, according to court documents. Hardest hit were the company's social networking websites, where revenue fell 17.6 percent, according to court filings. Its revenue in the year ended June 30 totaled $293.7 million, down 10 percent from the previous year.
The company and its affiliates are composed of a global network of more than 8,000 websites with 220 million members and 750,000 subscribers, according to court documents.īut while Facebook, LinkedIn and other social sites have boomed, FriendFinder's limped.