Quote:
Originally Posted by Barefootsies
Cliff Notes:
Disruptive digital technologies have struck a near-death blow to big players in the porn business. There's no better example than Barcelona-based Private Media Group, Europe?s biggest adult entertainment brand.
After three consecutive years of operating losses, Private's stock is in the cellar, trading at around $2 on Nasdaq, down from a high of near $40 a decade ago. Its auditing firm doubts Private's ability to survive. "Right now I'm simply trying to make the company cash flow positive," Private CEO Ilan Bunimovitz told Forbes last week.
Apparently he didn't make it positive enough: Bunimovitz was canned Monday by Private's board, without explanation.
http://blogs.forbes.com/bizblog/2010...private-media/
http://blogs.forbes.com/bizblog/2010...pes-porn-king/ |
It's a damn shame, they were meant to be the biggest porn business in the world but they were never been able to make the transition to online business, this goes way further than tubes. I was contacted by them to help with that and they required me to move to Barcelona, which I wasn't able to due to family reasons. I sent them a couple of suggestions on how we could work it out, but they were more interested in playing the "oh I'm so corporate I cannot change" game than making that transition. Plus, some insiders told me there were huge issues and ego wars between the magazine, DVD and online departments. Of course, they failed, and they failed huge, these news came as no surprise at all, was just a question of time. Again, a damn shame, I always was a huge fan of Private 
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