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In 2007 the company bought Various Inc and its dating websites from Conru and Mapstead for 0 million. Bankruptcy Court papers it plans to issue cash and new debt to holders of 4 million of first-lien notes.A year later it filed with regulators to raise 0 million in an initial public offering, but when it finally completed the IPO in 2011, Friend Finder raised just million. It also plans to cancel about 0 million in second-lien notes and issue new stock to those debtholders, who will own the company when it exits bankruptcy if the plan receives creditor and court approval.
Hardest hit was the company’s social networking websites, where revenue fell 17.6 percent, according to court filings.(Reuters) - Maybe sex doesn’t sell that well after all. PK, publisher of Penthouse magazine and numerous adult-entertainment websites, filed for Chapter 11 bankruptcy on Tuesday. Under the plan, one group of noteholders will take ownership of the sex entertainment business, which traces its roots to the late Penthouse publisher Bob Guccione.The company, which sought to combine social networking and sex, said it had struck a deal with noteholders that will reduce its debt by 0 million if approved by the U. As is typical in bankruptcy, shareholders will likely be left with nothing.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Over 412 million accounts -- including 16 million "deleted" accounts -- were leaked from FFN sites, including Adult Friend Finder.com, Penthouse.com, Stripshow.com, Cams.com, and i