No sale has yet been closed, but not due to a lack of a willing seller. We’ve gotten confirmation, from a new source, that their annual revenues are “over $300 million.” And we’re now hearing EBITDA numbers in the $100 million/year range. Penthouse seems to be the only serious bidder for the company, but they are clearly talking to a lot of potential buyers. They seem to be ready to sell for a little as $300 million, which suggests founder Andrew Conru wants out of the smut business, and fast.
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