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Regent Media
Assumes Majority Interest in PlanetOut
Publisher of The Advocate and Out magazines and owner of here! TV buys controlling interest in PlanetOut Inc., including Gay.com, to form Here Media Inc.
Regent Entertainment Media, publishers of The Advocate and Out magazines and owner of the here! TV network announced Thursday that it has signed a merger agreement with PlanetOut Inc. The combined company will be known as Here Media Inc, 80% of which will be owned by the owners of Regent Entertainment Media.
In addition owning here! TV, The Advocate, and Out, Regent Entertainment Media also publishes HIV Plus magazine and Alyson Books. Its online presence includes Advocate.com, Out.com, HIVPlusMag.com, OutTraveler.com, and SheWired.com. PlanetOut runs two of the longest-established gay sites on the Web, PlanetOut.com and Gay.com.
"This business combination will unite a powerful broadband video solution with an iconic brand and a leading URL in the LGBT community," said Paul Colichman, CEO of Regent Entertainment Media. "We are extremely excited about the opportunity to leverage this exceptional collection of assets to expand our audience, grow our revenues, and increase stockholder value." (Advocate.com)
