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Planet Out Seeks Buyer

Gay publishing giant seeks suitor, evaluates strategic alternatives.
Planet Out Seeks Buyer
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Jan 30, 2008 5:00 AM PST    Text size: 
SAN FRANCISCO — Gay multimedia company Planet Out Inc. announced in mid-January that it had retained the services of investment brokerage Allen & Company to seek out potential buyers for the company, as well as other strategic alternatives.

The publisher cautioned in a press release that while they were evaluating options, that in no way indicated any potential action on the part of the company to move forward with a specific plan.

Planet Out holdings include several digital media outlets including Gay.com, PlanetOut.com, Advocate.com, Out.com, OutTraveler.com and HIVPlusMag.com, as well as magazine publications including The Advocate, Out, The Out Traveler and HIVPlus, as well as SpecPub, Inc. titles. Transaction services brands include e-commerce websites Kleptomaniac.com and BuyGay.com and also book publisher Alyson Publications.

Allen & Company is an investment bank that services the entertainment, technology and information sectors, and includes Seagram, Universal Studios, Disney, Capital Cities/ABC, Hasbro and Galoob Toys. The firm host a well-known annual retreat in Sun Valley, Idaho that attracts the likes of Berkshire Hathaway founder Warren Buffet and Microsoft owner Bill Gates.

For more information, visit http://www.planetoutinc.com.

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