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Adult Auction Site Acquired By Penthouse Shareholder

Adult Auction Site Acquired By Penthouse Shareholder
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Nov 11, 2004 1:00 PM PST    Text size: 
DEERFIELD BEACH, Fla. — Media holding company Care Concepts, a major equity owner of the Penthouse publisher, made new forays into the adult industry on Thursday as both the acquisition of adult auction website 4PlayAuction.com and the first issue of the new Spanish-language Penthouse magazine were announced.

The new auction website, purchased from Illinois-based electronic manufacturing company CPM, Inc. for 25,000 shares of common stock, is structured similarly to eBay and was designed as an alternative to mainstream auction sites that discourage adult-oriented transactions.

“The acquisition of 4PlayAuction.com from CPM, Inc., which includes the website, URL, and proprietary software, is a logical and synergistic addition to our existing mainstream auction operations and our investments in adult brands including our 40 percent equity interest in Penthouse Media Group,” said Steve Markley, chief operating officer of Care Concepts.

Penthouse’s Spanish language magazine, published today and helmed by a former editor-in-chief of Playboy Mexico, is expected to hit Mexican store shelves by the third week of November.

The first issue of the magazine features Mexican actress Yatana, an exclusive interview with George Michael, and was designed to be more of a lifestyle magazine than previous Penthouse incarnations, according to the company.

“The launch of the Mexican edition of Penthouse is exciting for the future of PHSL Worldwide,” said Executive Vice President Claude Bertin. “The content of this Mexican edition was conceptualized to be readable by both men and women, thus appealing to a wider variety of readers,”

An official unveiling of the magazine is scheduled for Nov. 17 at the Foru-Foru Theatre in downtown Mexico City.

The company is expected to release more details regarding their new line of Penthouse Clubs and resorts during the party.

Care Concepts, who purchased roughly 40 percent of the non-voting stock in Penthouse’s publisher when it emerged from bankruptcy last month and received some first-rejection rights to using the Penthouse brand, is expected to give a sizeable portion of its stock to PHSL Worldwide, the former owner of the Penthouse publisher, in exchange for its acquisition of iBill sometime within the next two months.

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