Arnold Schwarzenegger engaged in a sex act.
Last year, Frommer acquired a trove of memorabilia owned by the late Guccione that included nude photos of Madonna and a picture of former California Gov. “Like all magazines, it’s struggling,” said one source briefed on the situation.īut the glossy girlie mag founded by Bob Guccione, whose monthly circulation has sagged to less than 200,000 from 5 million at its peak, is being circled by New Jersey-born entrepreneur Jeremy Frommer, according to insiders. The New York Post:Īs the reorganized FriendFinder scrambles for profits with a portfolio of social-networking sites, it’s doubtful whether creditors who are taking control of the company are committed to keeping the iconic porn publication alive, insiders said. Newer generations, the advent of the sexual revolution and the Internet made it as up to date as pay phone telephone booths. He died of cancer in 2010, aged 79.Īnd it was of a different age, indeed: the age of the “Rat Pack,” the age depicted on “Mad Men,” when a magazine that wasn’t quite super XXX hardcore porn but was far raunchier than “Playboy” could thrive among adult men, and be the secret possession hidden in teenage boy’s rooms. It emerged from protection the following year and was renamed Penthouse Media Group.
In 2003 the company declared itself bankrupt after defaulting on loans. However, the advent of online pornography began to erode sales and several bad business deals put General Media in financial trouble. It regularly sold three million copies a month at the height of its success, and an issue in 1984 that featured Vanessa Williams, the first black Miss America, shifted five million copies.īy the early 1980s, Mr Guccione was worth $400 million. Publication of an American version began in 1969 and by 1978 it was selling more copies than Playboy, making at least $7 million a year. The magazine was set up by Bob Guccione in London in 1965 as a raunchier rival to Hugh Hefner’s Playboy, featuring full-frontal nudity and explicit poses. It had struggled to make loan payments and is seeking to cut debt. THE “pets” of Penthouse are in the doghouse after the owner of the adult magazine filed for bankruptcy protection yesterday.įriendFinder Networks, which also owns websites such as, had assets of less than $US10 million but liabilities of $500 million to $1 billion, according to the Chapter 11 filing. The owner of Penthouse Magazine, the more graphic alternative to Playboy, has filed for bankruptcy protection - a consequence of how print porn became impotent and screwed by the advent of the far more accessible (and free) Internet:
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