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This is pretty good news for affiliates believe it or not.
Penthouse took on too much debt acquiring Various Inc.
Business creators/ owners like Andrew Conru don't usually sell the company they created when the deal is financed by so much debt as it can kill the company, at best it completely starves it of funds that should go towards development, staff, affiliates. But this was pre-2008, he probably thought Penthouse could pull it off.
Now that the original founders are back in control of the company the bond payments will be mostly off the books and AFF profitable again.
Oh and before people like Will76 laugh they should look at the conditions of those notes that were issued. The founders received massive payoffs for the past 6 years and now get AFF back.
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