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Recession Good For Adult Business? Penthouse-Owner FriendFinder Files For $460M IPO

imageIntentions for this was announced in March this year, but got scuttled, and no one thought it would re-file in this kind of market environment: Penthouse Media Group, which now goes under a more innocuous name of FriendFinder Networks, has filed its S-1, with an intent to go public and raise about $460 million. Most of the raised money will be used to pay down its debt, related to its $500 million purchase of parent Various Inc. last December. Besides the adult sites and magazines, the company also runs, a dating site for Christian singles, and others. FriendFinder says it has about 270 million members across all its networks, and in this recessionary climate, who doesn’t need more companionship, whichever kinds, that seems to be the logic with the timing.

This is Penthouse