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Earlier this year, Lodge Net Interactive, which provided adult films and video games to hotels and their guests, filed for bankruptcy, partly due to Internet competition.
The Friend Finder case is PMGI Holdings Inc, Case No.
Shashoua also said credit card companies had refused to process transactions for the company’s Internet businesses. Friend Finder has not turned in a net profit since at least 2008, according to Thomson Reuters data.
The company was formed by Marc Bell and Daniel Staton in 2003 when they acquired out of bankruptcy the publisher of Penthouse, Guccione’s racier rival to Playboy.
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.
A major data breach to the "sex and swingers" website Adult Friend Finder could trigger a series of follow-on hacks, security researchers have warned.In a move, philosophically counter to Playboy, newly-formed company Penthouse Global Media Inc.(PGMI) has acquired the Penthouse brand, and all licensed assets from Friend Finder Network (FFN), an Internet-based social network, best known for its hook-up, dating and adult sites such as Adult Friend During the survey period it was found, that five percent of responding singles reported that they were current users.
Furthermore, 63 percent of surveyed married individuals stated that they had never used Adult Friend Finder.
It is the second time in as many years that Adult Friend Finder has been hacked, following 3.5 million user records being exposed in May 2015.