Gov. Gretchen Whitmer addressed the State of Michigan after a plan to kidnap her and other Michigan government officials was thwarted by state and federal law enforcement agencies. She started by saying thank you to law enforcement and FBI agents who participated in stopping this [...]
by Rex Wockner
National News Briefs
PlanetOut Inc. is selling The Advocate and Out magazines = as well as The Out Traveler, HIVPlus, three porn magazines and book publisher Alyson Publications = to an affiliate of the gay TV network here! for $6 million.
The sale price is far less than the $31.1 million PlanetOut Inc. paid for the magazines and book company when it bought LPI Media Inc. and SpecPub Inc. in 2005. PlanetOut Inc. reported a loss of $51.2 million last year.
The company will continue to own and operate http://www.Gay.com and http://www.PlanetOut.com.
In January, PlanetOut Inc. “retained Allen & Company, LLC to assist the company in evaluating strategic alternatives, including a possible sale of the company,” a press release said.
The corporation also announced in January “that it will no longer be providing quarterly or annual earnings guidance and will not hold quarterly earnings calls.”
The porn magazines included in the sale to Regent Releasing L.L.C. are Men, Freshmen and Unzipped. A fourth SpecPub Inc. porn magazine, known as , has ceased publication, but the sale will include the trademark “,” PlanetOut Inc. CEO Karen Magee said via e-mail.