The pornography business is one of the most lucrative industries in the country. For years before the internet made porn easily accessible, men and women flocked to magazine stands for periodicals such as Playboy and Penthouse.
The latter filed for bankruptcy earlier this year, prompting a sale of the company. Now, it's being reported that WGCZ, an obscure pornography company that is behind Bang Bros., has scooped up Penthouse for a cool $11.2 million.
According to The Blast, an auction for Penthouse recently took place, and all the big pornography companies attempted to acquire the bankrupted company. Apparently, bidding for Penthouse started at $3 million. Hustler and the parent company of High Times also bid for Penthouse, but WGCZ won out with a final purchase price of $11.2 million.
The Penthouse catalog includes 50 year’s worth of porno mags, but according to the auction notice, the company also brings in about $10 million annually between four divisions: publishing, broadcasting, licensing and digital.
WGCZ now owns over 2,000 trademarks and copyrights, 50 licensing agreements, over 1,200 film titles. They also own various adult channels that cleared $5 million in revenue last year. Now that's a porn empire.
Source: theblast.com
