Penthouse magazine may have a new sugar daddy waiting in the
wings.
The fate of the 48-year-old smut rag is in question after
parent FriendFinder Networks filed for Chapter 11 this week, sources told The NYPost.
As the reorganized FriendFinder scrambles for profits with a
portfolio of social-networking sites, it’s doubtful whether creditors who are
taking control of the company are committed to keeping the iconic porn
publication alive, insiders said.
“Like all magazines, it’s struggling,” said one source
briefed on the situation.
But the glossy girlie mag founded by Bob Guccione, whose
monthly circulation has sagged to less than 200,000 from 5 million at its peak,
is being circled by New Jersey-born entrepreneur Jeremy Frommer, according to
insiders.
Last year, Frommer acquired a trove of memorabilia owned by
the late Guccione that included nude photos of Madonna and a picture of former
California Gov. Arnold Schwarzenegger engaged in a sex act.
Reached Tuesday, Frommer declined to comment. A spokesman
for FriendFinder also declined to comment.
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