FriendFinder Networks Inc. (“FFN”) announced today that based on market conditions, it has chosen not to proceed with its planned initial public offering at this time until market conditions improve.
With this short statement, FriendFinder Networks has canceled its IPO.
Florida-based FFN (formerly Penthouse Media Group) houses sites like Penthouse and Adult FriendFinder, filed a registration statement with the SEC in December 2008, hoping to raise $460 million in the initial public offering.
Penthouse acquired Adult FriendFinder in December 2007 for approximately $400 million.
(News is breaking, more coming)
Information provided by CrunchBase
Buy This Item: [Click here to buy this item]