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Control of the company would go to Andrew Conru and Lars Mapstead, two noteholders who sold various social networking websites to Friend Finder in 2007.
target=https://com/articles/no-headline-available-1387235921","logout Url":"https://com/logout? (Reuters) - Maybe sex doesn’t sell that well after all. PK, publisher of Penthouse magazine and numerous adult-entertainment websites, filed for Chapter 11 bankruptcy on Tuesday. Under the plan, one group of noteholders will take ownership of the sex entertainment business, which traces its roots to the late Penthouse publisher Bob Guccione.The company, which sought to combine social networking and sex, said it had struck a deal with noteholders that will reduce its debt by 0 million if approved by the U. As is typical in bankruptcy, shareholders will likely be left with nothing.Some of that drop was offset by a 7.8 percent rise in live interactive video revenue.Ezra Shashoua, the company’s chief financial officer, blamed the lower revenue on a drop in membership and increased advertising costs for affiliates, according to court documents.If Adult Friend Finder users have the same password for multiple sites and online services, criminals could use it to compromise other accounts.Similarly, personal details could be used in phishing campaigns that use such information as bait to trick people into giving up sensitive data."With this breach of 400 million accounts we should expect a domino effect of smaller data breaches with password reuse and spear-phishing," says Ilia Kolochenko, CEO of security firm High-Tech Bridge."General Data Protection Regulation (GDPR) enforcement will probably help to minimize this type of incident in the future, however it will take some time.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. This statistic illustrates findings of a survey on the share of individuals who are current or past users of Adult Friend Finder in the United Kingdom (UK) in June 2017, by marital status.Adult Friend Finder is an adult dating site that provides services to male and female users who seek short-term sexual encounters over the internet.