Penthouse International Founder and Publisher Robert Guccione Featured in New York Magazine
February 09 2004 - 4:33PM
PR Newswire (US)
Penthouse International Founder and Publisher Robert Guccione
Featured in New York Magazine NEW YORK, Feb. 9
/PRNewswire-FirstCall/ -- Penthouse International (OTC Bulletin
Board: PHSL), a diversified holding company with operating
subsidiaries in adult entertainment and real estate, announced
today that Robert Guccione, founder and publisher of the
world-renowned adult entertainment magazine Penthouse was featured
in the article, "The Porn King in Winter," in the February 9, 2004
issue of New York Magazine. Interested parties can view the article
online at: http://www.otcfn.com/phsl. An excerpt from the article
stated, "Guccione was distancing himself from the Hefner style as
quickly as he could go. 'People who don't know me think badly of
me,' he said. 'They think I'm like Hefner. But the fact is, I'm not
a Hefner. When I give parties, I give birthday parties. I don't
give parties with stars and celebrities. I don't have a lifestyle,
and I never had.'" About Penthouse International, Inc. Penthouse
International, Inc., through its 99.5% owned subsidiaries General
Media, Inc. and Del Sol Investments LLC, is a brand-driven global
entertainment business founded in 1965 by Robert C. Guccione.
General Media's flagship PENTHOUSE brand is one of the most
recognized consumer brands in the world and is widely identified
with premium entertainment for adult audiences. General Media
caters to men's interests through various trademarked publications,
movies, the Internet, location-based live entertainment clubs and
consumer product licenses. General Media licenses the PENTHOUSE
trademarks to third parties worldwide in exchange for recurring
royalty payments. Safe Harbor: This release contains statements
relating to future results of the Company(including certain
projections and business trends) that are "forward-looking
statements" as defined in the Private Securities Litigation Reform
Act of 1995. Actual results may differ materially from those
projected as a result of certain risks and uncertainties, including
but not limited to the availability of DIP financing for the
General Media subsidiary, the impact that public disclosures of the
Company's liquidity situation and Chapter 11 filing may have on the
Company's businesses, the fact that no assurances can be given that
the General Media Plan of Reorganization will enhance the Company's
competitive position, as well as other risks and uncertainties
detailed from time to time in the filings of the Company with the
Securities and Exchange Commission. On August 12, 2003, General
Media and its direct and indirect subsidiaries (the Debtors) filed
voluntary petitions for relief under Chapter 11 of Title 11 of the
United States Code in the United States Bankruptcy Court for the
Southern District of New York. Penthouse International, Inc. owns
99.5% of the capital stock of General Media. Penthouse did not file
for protection under the Bankruptcy Code and its activities are not
subject to Bankruptcy Court supervision. On December 22, 2003, the
Debtors filed their Joint Plan of Reorganization and the disclosure
statement with respect to the Plan (as such Disclosure Statement
may be amended). If the Plan is confirmed pursuant to its current
terms, no distribution on account of equity is proposed under its
terms. For additional information, reference is made to publicly
available documents filed with the bankruptcy court to determine
the most current status of all matters related to the bankruptcy
case of General Media. The website of the Bankruptcy Court is
http://www.nysb.uscourts.gov/. For more information, contact: Gary
Geraci OTC Financial Network 781-444-6100 ext. 629 See also:
http://www.otcfn.com/phsl DATASOURCE: Penthouse International, Inc.
CONTACT: GaryGeraci of OTC Financial Network, +1-781-444-6100 ext.
629,
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