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Originally Posted by FreeOnes
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http://www.avn.com/internet/articles/4323.html
Penthouse Acquires Danni.com Properties
$3 million deal increases brand strength
Posted: 10/31/2006
BOCA RATON, Fla. - AVNOnline.com has learned that Penthouse Media Group has acquired Danni.com and all of the company?s associated properties for $3 million in cash and stock options. The acquisition includes all outstanding shares, trademarks, and assets of Danni Ashe Inc. and Video Bliss Inc., the companies that sprung from Internet model Danni Ashe?s softcore online empire. All of the properties immediately join the Penthouse family.
?This is a continuation of our strategy of acquiring first-rate assets in the industry,? said Penthouse Chief Executive Officer Marc Bell.
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The move significantly bulks up Penthouse?s properties in several markets. In addition to Danni.com, Danni?s online properties include MishaOnline.com, EricaCampbell.com, and CrystalKlein.com. The company?s DVD line is distributed through Pure Play, it has broadcasting deals through BRI/CED, and various mobile content distribution deals are in place.
Despite the acquisition, Bell said the two companies would continue to operate as they currently do, with in-place personnel and an independent structure.
We don?t anticipate any changes between the two businesses,? Bell said.
?Danni has its own customer base and its own type of content. We will add more content to the sites with the Penthouse library, and we will give [their sites] some additional value.?
Penthouse, obviously in acquisition mode, in bankruptcy court in April purchased the assets of Jill Kelly Productions for $1.7 million, outbidding heavyweights Playboy, New Frontier, and Frank and Michael Koretsky?s Xgen LLC.
Bell promised more moves will follow, but declined to elaborate.
?We are continuing to look for quality assets to acquire in the industry,? he said.
Ashe, who essentially retired from modeling two years ago, owned 25 percent of the company before the sale to Penthouse.