Titillating magazine and adult video pioneer Penthouse Media Group has spent $500 million to buy a bunch of social networking web sites with its acquisition of Various Inc and its subsidiaries.
Various operates 25 online communities including adultfriendfinder.com, which supposedly has 18 million members.
All together, Various is said to have a membership base of 260 million consumers.
Penthouse folks crowed that with combined 2007 projected revenues of $340 million Penthouse Media Group was the largest adult entertainment company in the world.
Social networking web sites are sizzling hot with a motley crew of players including Google, Microsoft, News Corp and even the bumblingÂ CIA wading into this space.