Thursday, September 19, 2013

Penthouse: Can’t Sell Sex

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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