Investors Hot for Penthouse TV
In further proof that sex sells, Penthouse Media Group received $48 million from more than ten investors to develop high-tech distribution channels for its adult entertainment.
The New York City-based company will use the money to start broadcast networks to compete with Playboy, which has turned broadcast entertainment into one of its most profitable ventures.
To help extend its broadcasting reach, Penthouse hired the former president of the Playboy Entertainment Group, James English.
Under the initiative, the company will deliver high-definition broadcasts via video-on-demand and pay-per-view.
posted by Fergie @ 9/12/2005 03:30:00 PM
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