Tag Archives: PlanetOut

Nine months after selling them Out and Advocate magazines, PlanetOut has been acquired by Regent Media. Regent’s purchase of Gay.com and the other remaining PlanetOut assets completes the years-long death spiral of the once-great LGBT media company. It appears that all the former PlanetOut properties will continue to operate under the new combined company. Regent Entertainment Media, publishers of The …

NASDAQ has issued a warning to PlanetOut that the company has not maintained the required $5M minimum value of publicly held shares and may be delisted from the exchange. The company has until October 30th to up its value. Earlier this year PlanetOut sold their magazine division (Out, Advocate) to Regent Releasing, the owners of gay cable network Here! TV. …

PlanetOut has announced the sale of Out and Advocate magazines to New York-based gay cable channel Here Networks for $6M cash, payable in monthly installments beginning this month. PlanetOut will retain Gay.com and PlanetOut.com, a mere fraction of its formerly sprawling holdings which included adult magazine publisher Spec Pubs and gay cruise company RSVP. Last month PlanetOut put Expedia in …

PlanetOut has released their 2007 figures and the news is pretty bad:. Gay and lesbian focused web media company PlanetOut Inc. reported a loss of $51.2 million for 2007. In 2006, the San Francisco company (NASDAQ: LGBT) lost $3.7 million. Sales fell to $53 million for 2007, down slightly from 2006 sales of $58.8 million. PlanetOut, which owns Gay.com, Advocate.com, …

Kent Blackwelder, a former Big Brother contestant, is suing Specialty Publications for $4M because his 12 year-old daughter opened a mailing from them which contained gay porn, including a sample DVD from Titan Media, Farm Fresh. From the suit: “Mary Doe [Blackwelder’s daughter], being a curious child and thinking the free DVD offer was for a Disney movie, opened the …

After yesterday’s news that PlanetOut is planning to sell itself, its stock tumbled another 23%. The company has lost 87% of its value since January 2007. In an effort to retain their NASDAQ listing, last year the company performed a 1-10 reverse stock split. Companies must maintain a stock value of over $1 to maintain their listing on the exchange. …

PlanetOut, parent company of Out, Advocate, Gay.com, is looking for a financial savior again. Struggling gay and lesbian media and entertainment company PlanetOut Inc.LGBT] late Monday said it has retained Allen & Company LLC to assist it in evaluating strategic alternatives, including a possible sale of the company. For the first nine months of 2007, PlanetOut reported a loss of …

Continuing to shed lackluster properties, PlanetOut has sold their RSVP cruise business to main rival Atlantis Events for an undisclosed amount. The sale will not affect RSVP’s scheduled itinerary or passengers already booked. According to reports, Atlantis plans on maintaining the RSVP brand. In June this year, PlanetOut sold SpecPub, their adult magazine division. CEO Karen Magee says the latest …

PlanetOut Partners has announced that the Advocate will now ship to subscribers without the cloaking cover that previously shielded its identity. Out will follow suit shortly. A good move, long overdue. Those that don’t want the mailman to know their business can still request their subscriptions be cloaked.

A holding company that invests the wealth of Bill Gates has bought a 56% controlling stake in failing PlanetOut Partners, owner of Advocate and Out magazines, Gay.com, and RSVP Cruises. Cascade Investments LLC joined with several other private equity firms in the rescue of PlanetOut stock, more than doubling its stock value from its 52-week low of $0.86. Shortly after …

Is PlanetOut beginning to dismantle? In a self-reported story posted on the Advocate’s site, PlanetOut Partners has announced it is selling its adult publishing division, SpecPub, as it attempts to stem the hemorrhage of red ink. SpecPub comprises four gay adult magazines: Unzipped, [2] Magazine, Men Magazine, and Freshmen. PlanetOut is revamping Advocate, with a planned redesign set to launch …

Ouch. PlanetOut’s stock price has nosedived since last week’s earnings announcement, closing yesterday at $1.11, recovering slightly from an all-time low of $0.86 at midday. The 52-week high for the stock, which trades as LGBT, was $7.95.

“This is deeply disappointing and concerning to me and the rest of the management team.” – PlanetOut CEO Karen Magee, announcing that the company, owner of Out, Advocate, and Gay.com, will be out of money by the end of the year without an infusion of cash. PlanetOut reported a first quarter loss of nearly $7M on Friday, sending its stock …