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Penthouse goes on global TV offensive Adult magazine publisher Penthouse Media is taking on archrival Playboy in the television space after raising $48m to fund the global roll-out of its own broadcast and video-on-demand networks. The company said it aimed to use the private funds to build multiple broadcast networks to compete directly with the Playboy Network, Playboy-owned Spice TV, and New Frontier's TEN (The Erotic Network). Penthouse, which has recently restructured after filing for bankruptcy, said it believed it could not only grow the soft porn TV market but could also capture significant market share from its rivals. "The new round of financing is a resounding vote of confidence in Penthouse, its management team and our operational plan," said Penthouse ceo Marc H Bell. "With these proceeds, Penthouse will launch Penthouse broadcast networks." To this end, the company recently swooped on the former president of the Playboy Entertainment Group and Playboy TV Networks Worldwide, James English, bringing him on board to spearhead the move. "With new ownership, management and funding, Penthouse will bring a much needed shot in the arm to cable and satellite and will set the stage in new arenas such as wireless," said English. Aside from linear pay-per-view and subscription cable and satellite channels throughout North America, Penthouse said it would take its own-branded content global via digital video-on-demand. "Over the next several years it is anticipated that Penthouse-branded products will be available in VoD to 100% of the (North American) market with further extension internationally – launching in Latin America, Europe and Asia," the company said in a statement. "This will complement the global retail distribution of Penthouse programming via home entertainment." Jonathan Webdale 13 Sep 2005 © C21 Media 2005 
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