PlanetOut and Liberation Publications to Merge

Posted on March 24, 2000

PlanetOut, an Internet media company for the gay, lesbian, bisexual and transgender community, and Liberation Publications, Inc. (LPI), the largest gay and lesbian publisher in the U.S. whose properties include The Advocate magazine, have signed a letter of intent to merge the two companies. The agreement represents PlanetOut and LPI's joint long range strategy to become the leading, integrated Internet media company, converging their content and commerce with print, television, online, radio and live events.

Under the terms of the undisclosed deal, LPI will join with the PlanetOut family. LPI's assets currently encompass magazines, online properties and books. LPI had previously announced plans on February 21, 2000 to acquire the assets of Out Publishing, Inc., publisher of Out and HIV+ magazines.

``We've brought together the most trusted brands from the gay and lesbian print world with the leading online, television and radio brand to form the largest gay media company, with strong operations in New York, Los Angeles and San Francisco,'' said Megan Smith, CEO of PlanetOut. ``Our members, readers and advertisers will all benefit from our integration through increased service, more editorial, and network buying, respectively.''

``As publisher of the most respected titles in gay and lesbian media, we're excited to be joining forces with PlanetOut,'' said James Franklin, president and CEO of Liberation Publications, Inc. ``We're looking forward to expanding the audiences for some of the best-known brands across all media platforms.''

Founded in 1967, The Advocate reports bi-weekly on news, politics, business, medical issues and arts and entertainment. The bi-weekly circulation of The Advocate is 88,000. Out, launched in 1992, is a general interest lifestyle magazine for gays and lesbians, covering a broad range of topics including current affairs, culture and finance, fitness, travel, fashion and entertainment. Published monthly, Out operates from its headquarters in New York City with a staff of 32 and has a circulation of 115,000.

PlanetOut is an Internet media company and community for gay, lesbian, bisexual and transgender people, which started in 1995. PlanetOut offers a variety of content including: news, entertainment, travel, money and careers, Internet radio, online cinema, shopping, directories, personals, community centers, chat and advice columns by experts such as Betty DeGeneres. PlanetOut has more than one million unique visitors per month and 500,000 registered members. PlanetOut is a San Francisco-based company.



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