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Penthouse
Penthouse
Magazine
Penthouse
Webmasters
Website Review
At
Penthouse.com you know what you are going to get-
ultra-high "magazine" quality girls
doing explicit things. When I saw the tour I recognized
lots of famous girls but in the members area I
realized they have tons of other hot new girls
I had never even heard of or seen anywhere else
on the net.
They
also have a ton of old Penthouse stuff that goes
back to the 1970's.
In
the members area, they have navigation of 'Penthouse
Pets', 'Videos', 'Galleries', 'Live chat', 'Reading',
'World of Penthouse' and 'Store.' They also have
a calendar of their updates where it shows thumbnails
of all their updates (7 days a week, nice!)
Penthouse
Pets has a directory of Pets by year and by name
going back to the 1970's.
Videos
has about 100 full length movies where you can
jump directly to the scene you want to watch.
It also has behinds the scenes videos from Penthouse
photoshoots and a bunch of hardcore feeds and
a video on demand theatre. 'Live chat' has bi-monthly
live video chat sessions with select Penthouse
Pets and models and 'Reading' has dirty stories
from Penthouse Forum.
Members
of Penthouse also get access to PenthouseLetters.com,
Variations.com and PenthouseForum.com most of
which are erotic reading sites.
Features:
The photo galleries have a 'zoom' feature and
the newer galleries are available in ultra-large
sizes, the site has a search engine and the videos
are downloadable but they are DRM'd.
Overall,
I would say if you are a babe/pornstar fan this
is a great site to check out as it certainly has
a lot of exclusive material and the navigation
and design is top notch.
Click
here to go to Penthouse.com
Penthouse.com |
| Quick Facts |
| Pictures: |
Yes |
| Videos: |
Yes |
| Formats: |
WMV (300,500, and multi-bit rate)
Flash (1.5 Mbps, 720x480 @ 30fps, Stereo) |
| Downloads: |
Yes |
| Membership: |
Yearly
(12 months) |
Quarterly
(3 months) |
Monthly
(per month) |
| Cost (Gold): |
$119.40 |
$59.85 |
$24.95 |
| Cost (Silver): |
$95.40 |
$47.85 |
$19.95 |
At Penthouse.com you know what
you are going to get- ultra-high "magazine"
quality girls doing explicit things. When
I saw the tour I recognized lots of famous
girls but in the members area I realized
they have tons of other hot new girls I
had never even heard of or seen anywhere
else on the net.
They
also have a ton of old Penthouse stuff that
goes back to the 1970's.
In
the members area, they have navigation of
'Penthouse Pets', 'Videos', 'Galleries',
'Live chat', 'Reading', 'World of Penthouse'
and 'Store.' They also have a calendar of
their updates where it shows thumbnails
of all their updates (7 days a week, nice!)
Penthouse
Pets has a directory of Pets by year and
by name going back to the 1970's.
Videos
has about 100 full length movies where you
can jump directly to the scene you want
to watch. It also has behinds the scenes
videos from Penthouse photoshoots and a
bunch of hardcore feeds and a video on demand
theatre. 'Live chat' has bi-monthly live
video chat sessions with select Penthouse
Pets and models and 'Reading' has dirty
stories from Penthouse Forum.
Members
of Penthouse also get access to PenthouseLetters.com,
Variations.com and PenthouseForum.com most
of which are erotic reading sites.
Features:
The photo galleries have a 'zoom' feature
and the newer galleries are available in
ultra-large sizes, the site has a search
engine and the videos are downloadable but
they are DRM'd.
Overall,
I would say if you are a babe/pornstar fan
this is a great site to check out as it
certainly has a lot of exclusive material
and the navigation and design is top notch.
Click
here to go to Penthouse.com
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Penthouse
Penthouse,
a men's magazine founded by Bob Guccione, combines
urban lifestyle articles and soft-core pornographic
pictorials that, in the 1990s, evolved into hardcore.
Penthouse is owned by General Media, Inc, now
called Penthouse Media Group, Inc. whose parent
company was Penthouse International Inc. prior
to chapter 11 restructuring. Although Guccione
is American, the magazine was founded in 1965
in the United Kingdom, but beginning in 1969 was
sold in the United States as well. At the height
of his success, Guccione was considered to be
one of the richest men in the United States. He
was once listed in the Forbes 400 ranking of wealthiest
people (1982-$400 million net worth. According
to an April 2002 New York Times article that quoted
Guccione saying Penthouse grossed $3.5 billion
to $4 billion over the 30-year life of the company,
with net income of almost half a billion dollars.
Innovations
For many years, Penthouse fell between Playboy and
Hustler in terms of its explicitness and general attitude
toward sexual depictions, with Playboy being visually
softer and less focused on female genitals and with
Hustler going for a raunchier look and content often
consisting of toilet humor. Almost from the start,
Penthouse pictorials showed female genitalia and pubic
hair when this was considered by many to be obscene.
Simulated sex, but not penetration or male genitalia,
followed; then, several years later, male genitalia,
including erections, could be seen. In addition, Penthouse
attempted to maintain some level of reading content,
although usually of a more sexually oriented nature
than Playboy.
Move from softcore to hardcore pictorials
In 1998, caught between the widespread availability
of pornography on the Internet and the growing popularity
of non-explicit "men's magazines" such as
Maxim[citation needed], Penthouse decided to change
its format and began featuring sexually explicit pictures
(i.e., actual oral, vaginal and anal penetration).
It also began to regularly feature pictorials of female
models urinating, which, until then, had been considered
a defining limit of illegal obscenity as distinguished
from legal pornography. The new format lost subscriptions
and newsstand circulation for the magazine.
A
different approach to restoring sales was attempted
by the UK version of the magazine in 1997. Under the
editorship of Tom Hilditch, the magazine was rebranded
as PH.UK and relaunched as middle-shelf "adult
magazine for grown-ups". Fashion photographers
(such as Corinne Day of The Face magazine) were hired
to produce imagery that merged sex and fashion. The
magazine's editorial included celebrity interviews
and tackled issues of sexual politics. The experiment
attracted a great deal of press interest but failed
to generate a significant increase in sales. PH.UK
closed in late 1998.
The
new owners (see below) significantly softened the
content of the magazine starting with the January
2005 issue. Penthouse no longer shows genitalia, real
or simulated sex, or other hardcore content. While
this change allowed the return of a limited number
of mainstream advertisers to the magazine, it has
not significantly raised the number of suscribers;
total circulation is still below 350,000 [4]. Industry
pundits have opined that the new direction and content
of the magazine have blurred its distinctiveness from
other men's titles.[citation needed] Others have suggested
that the influx of former Playboy executives, e.g.
Diane Silberstein and Mark Rudolph, respectively now
President of Publishing and President of Licensing
for Penthouse, have led the magazine to become too
similar to Playboy, but with more generic, lower-profile
models.
Financial History
Penthouse’s parent company became General Media
Inc in 1993 in connection with the company going public
in December 21, 1993, in an $85 million the United
States Securities and Exchange Commission (SEC) registered
bond offering. Jefferies and Company lead the junk
bond offering (Jefferies is a leading middle market
investment bank listed on the New York Stock Exchange).
The main buyer of the bonds was the $40 billion MacKay
Shields division of the venerable $143 billion New
York Life insurance company.
The
collateral for the bonds was primarily the registered
trademarks of the company and other intellectual property,
since the “Penthouse” brand is a worldwide
recognized brand and would be difficult and expensive
to recreate.
In
1997, Cerberus Capital Management began acquiring
the General Media bonds in the open market. Cerberus
is one of the largest hedge funds in the United States
with a reported $18 billion under management.
In
an effort to raise cash and to reduce debt, Penthouse
sold its portfolio of several automotive magazine
titles in 1999 for $33 million cash to Peterson Automotive,
the national auto publishing group. While these titles
were successful, it is widely reported that science
and health magazines, OMNI and Longevity, cost Penthouse
almost $100 million, contributing to its eventual
financial troubles.
Guccione
and his trust remained the sole shareholder of General
Media, according to SEC filings, despite the bondholder
obligations. In October 2002, he agreed to take on
his first ever minority shareholders in 37 years.
Affiliates of Jason Galanis and Charles Samel acquired
15% of the company according to SEC filings (affiliates
later acquiring 100% in November 2003 according to
filings). In October, 2002, General Media became a
wholly owned subsidiary of Penthouse International
(f/k/a American Pulp).
Bankruptcy
Per SEC filings, General Media defaulted on a [$1.3
million] payment on its $50 million in outstanding
bonds. As a result, the bondholders had a right to
take control of the company unless General Media sought
protection under the federal bankruptcy laws.
On
August 12, 2003, General Media, the parent company
of the magazine filed for Chapter 11 bankruptcy protection.
Immediately upon filing, Cerberus Capital management
entered into a $5 million debtor-in-possession credit
line with General Media to provide General Media working
capital. In October 2003, it was announced that Penthouse
magazine was being put up for sale as part of a deal
with its creditors. On November 13, 2004, Guccione
resigned as Chairman and CEO of Penthouse International,
the parent of General Media.
General
Media later filed a plan of reorganization that ceded
control to the bondholders, but then withdrew this
plan and filed a new plan that would have resulted
in the equity holders maintaining control of the company.
Also, the parties acquired the Guccione mansion from
the foreclosing lenders and reached agreement with
Guccione to lease him the home for $1 per year for
the rest of his life.
Given
the enormous recognition for the Penthouse brand,
Bell formed a partnership for the acquisition, called
it PET Capital Partners (as in, "pet of the month")
then led his team in amassing 89 percent of the magazine's
$50 million in bond obligations. "We didn't buy
the company, we bought the debt," says Bell.
The
bankruptcy challenges between the bondholders and
the shareholders continued through four official plans
of reorganization and substantial litigation. Ultimately,
the bondholder plan of PET Capital Partner group plan
was confirmed by the Court. However, the plan could
not close without the settlement of the outstanding
litigation between the parties.
On
September 28, 2004, the Molina parties agreed to dismiss
their claims and consent to the transaction. According
to SEC filings, simultaneously Care Concepts paid
PET Capital Partners $16.45 million in cash for 39.3%
of Penthouse Media Group. Penthouse International
paid and additional $1,000,000. Molina released his
claims in consideration for return of a $10 million
promissory note due to PET Capital Partners.
On
October 4, 2004, General Media emerged from bankruptcy
and was renamed the Penthouse Media Group. It is now
owned by three investors, Marc H. Bell, a high net
worth south Florida real-estate developer and founder
of the Globix corporation, a once public internet
hosting company, and Daniel Staton, a south Florida
investor with diverse investment properties ranging
from Broadway shows to Build-a-Bear stores and a member
of the board of directors of Public Storage Inc (NYSE:
PSA), and Absolute Capital Management, run by Florian
Homm, a German hedge fund manager that lives on the
Spanish island of Mallorca. Bell was reportedly solicited
for capital by an officer of General Media, but elected
to buy the bonds and attempt to foreclose. Bell was
quoted in South Florida CEO Magazine in June 2004
as saying "They were in bankruptcy, their bonds
were trading for pennies and nobody wanted the company,"
says Bell. "It was going to be liquidated and
we figured it was a great buy.
In
August 2005, PET Capital Partners completed a financing
with each of Post Advisory, Canyon Capital and Satellite
for $40 million. According to SEC filed documents
dated August 31, 2005 signed by Marc Bell as President,
Jefferies and Company represented Penthouse in the
private placement of new debt. According to the filing,
payments were made to directors and officers of $14,502,901
and “payments to others” were $11,710,965.38,
leaving the company with working capital of $11,441218.59.
Hedge Funds Role
Because of the established brand, Guccione was
attractive to leading institutional investors
including the country’s largest fund investors.
Beginning in 1997, Cerberus Capital Management
acquired interests in the bonds of Guccione’s
General Media, Inc. In addition, Elliot Associates
was a lender to Guccione personally and held a
$17 million mortgage on his mansion. Later after
Guccione sought protection in bankruptcy, a European
hedge fund called Absolute Capital Management
based in Mallorca Spain and London acquired the
bonds from Cerberus. Absolute is a publicly traded
hedge fund with $2.1 billion under management.
Guccione was able to pay Elliot Associates with
money from Galanis and Laurus Funds. As part of
the bankruptcy restructuring shareholders of Penthouse
arranged additional institutional financing in
order to fund a competing plan or reorganization
that would preserve their shareholders. Post Advisory
Group, a $9.0 billion hedge fund owned by the
insurance company Principal Financial Group, formally
committed in writing on March 4, 2004 to $30 million
to General Media, along with $38 million pledged
from the Molina family. Though Post Advisory did
not fund the above plan since it was not confirmed
by the Court, after reorganization bankruptcy
was completed, Post Advisory Group, Canyon Capital
and Satellite collectively invested $40 million
into the reorganized General Media, now called
Penthouse Media Group. Today, the three hedge
funds own a first mortgage on all of the assets
of Penthouse. Laurus has reportedly sold the mansion
for $59 million in late 2006. Galanis reportedly
introduced and structured the initial Post Advisory
transaction, the Laurus/Alexandre transaction
and the Molina investment in order to restructure
the company and preserve the common stock. Cerberus
first acquired Guccione debt in 1997 when the
hedge fund purchased personally guaranteed debt
owed by Guccione in connection with his ill-fated
Atlantic City casino venture that cost him an
estimated $140 million. Guccione eventually borrowed
the money from Elliot and others to pay Cerberus
in full, but went further in debt as a result.
Notwithstanding
the Penthouse/Guccione financial issues, General Media
had been cash flow positive for the prior 10 years
according to filings made with the SEC. However, as
it paid over $8 million in interest on the bonds and
$4.5 million to pay Guccione’s living expenses,
salary and upkeep on his mansion, the company became
cash strapped.
Controversies
Vanessa
Lynn Williams
The September 1984 issue of Penthouse was the second
largest selling issue of any magazine in history (5.3
million copies), outdone only by the November 1972
of Playboy, which sold 7.1 million copies [citation
needed]. This issue featured photos of Vanessa Lynn
Williams, who was the previous Miss America, from
early in her modeling career. Williams posed for the
series of black and white photos with another female
model, engaged in simulated lesbian acts, and appeared
on the cover with legendary movie actor George Burns.
Traci Lords
Although Williams' pictures generated the most
publicity at the time, the issue would later become
even more controversial because of its centerfold,
Traci Lords. Lords posed nude for this issue at
the beginning of her career as an adult film star.
It was later revealed that Lords was underage
throughout most of her career in pornography and
was only fifteen when she posed for Penthouse.
As a result, the issue is illegal to own with
centerfold intact because it fell under the laws
against child pornography.
Auto
Racing
Penthouse
sponsors the 1X car of driver Randy Hannagan in
the World of Outlaws sprint car series. Much controversy
from fans has surrounded the sponsorship with
many claiming to outright boycott any event Hannagan
is entered in[citation needed]. The sports sanction
body, DIRT Motorsport however will not prevent
Penthouse from their sponsorship role. There is
a section of Penthouse's official site that can
only be accessed through a link on Hannagan's
website and when accessed offers a special discount
for a one year subscription to the publication.
The
magazine previously sponsored cars in the Formula
One circuit from the late 1970s to the early 1980s.
Teams included Hesketh Racing and RAM.
(Credit:
Wikipedia).
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