Legendary queer activist Larry Kramer took aim at The Advocate at last week's National Lesbian and Gay Journalists Association convention.

Taking the microphone following publisher Michael Phelps' celebration of the 40-year old magazine's "new" design, Kramer - whose ACT-UP helped pave the way for the AIDS movement - implored Phelps and his staffers to do more than toying with new fonts.

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Danny Fields' lawyer's got his work cut out for him…

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Danny Fields' lawsuit against Out isn't the only problem plaguing perpetually strapped PlanetOut:

The two best-known magazines for gay readers, Out and The Advocate, suffered big drops in ad pages and newsstand sales during the first half of the year–making 2007 the second year of double-digit declines for the titles.

During the first six months of 2007, The Advocate's ad pages plummeted 41.9%, to 251–while Out is down 20.4% to 272, compared to the same period of 2006, according to the Publishers Information Bureau. These disappointing results follow a rough 2006, when The Advocate's total ad pages fell 17.1% and Out 12.2%, compared to 2005.

Media Post reports that while gay ad dollars are on the rise, most of the money may be going to local publications and, of course, the internet. What's more, "racier" mags Genre and Instinct seem to be sapping PlanetOut dry.

PlanetOut Inc's financial drama continues:

PlanetOut announced today that its stockholders had approved a reverse stock split designed to shore up the stock's price, which at times this year has hovered as low as $1 per share and below. The company, which trades as LGBT on the Nasdaq exchange, said in a release that shareholders approved the move in an Aug. 29 meeting, and the PlanetOut board set the ratio of the reverse stock split at 1 for 10.

The change is expected to become effective by Oct. 1, when PlanetOut every 10 shares of common stock of PlanetOut will be combined into one share of common stock. The share price will be increased by the same proportion. As a result, PlanetOut shares will trade above $10 per share, far above the $1 minimum set by the Nasdaq exchange rules. The stock closed [yesterday] at $1.45 per share, up 9 percent on the day, but the reverse stock split was announced after the exchange had closed for the day.

Will the move help Out and The Advocate's publisher or will that ship continue to sink? Who knows, but it sure as shit's been a wild ride!

• National Gay and Lesbian Task Force executive director Matt Foreman has some harsh words for Democratic presidential contenders:

We find no evidence that the Democratic frontrunners counter Republicans’ anti-LGBT speech with routine and positive inclusion of LGBT people in their visions for a whole and healthy society… The Democrats include us — sorta — but only in response to a direct question and typically in the language of careful legislative reform.

Word!

• Jim McGreevey and soon-to-be ex-wife Dina Matos McGreevey make another court appearance. Judge urges them to settle and stop wasting time/money. And, for some reason, Mato-McGreevey thinks she's entitled to $56,000 a month in alimony. Was her book really that much of a bomb?

• Venice film festival gets gay with Queer Lion Award.

• PlanetOut announces mixed second quarter fiscal results.

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The Advocate's reinvention tour continues. The gay news weekly has shed its shameful, oppressive cellaphane wrap and will now travel the United States postal system naked.

Publisher Michael Phelps tells NY Times that he and enslaved interns polled readers and the majority support free balling.

The majority no longer wanted the covering. For some, they said they were environmentally conscious and wanted to cut down on waste. For others, it was more of an out-and-proud issue.

Not incidentally, the first issue shipped features sacked soldier turned activist Eric Alva. Don't worry, closet cases, you can still request the protective shield.

While The Advocate "comes out of the closet," as market researcher Bob Witeck jokes, other magazines eschew the exposure. Raymonde Green, EIC of "urban" fag rag Uneq, tells journo Juston Jones, “We are a fairly new magazine, so we are still trying to gain the trust of our readers.”

Perhaps a game of truth or dare will help?

• Scientologist John Travolta had a few words for gays protesting his cross-dressing, John Waters-endorsed appearance in Hairspray.

There is nothing gay in this movie. I'm not playing a gay man. Scientology is not homophobic in any way, in fact it's one of the more tolerant faiths. Anyone's accepted.

As long as they assimilate to pre-determined Scientological "lifestyles" and sacrifice their rational thought, brain and soul.

• Gay for pay porn star Marc Dalton continues to make his parents proud: a domestic dispute violated his probation and landed him back in jail. And he'll probably be there for the foreseeable future.

• Did Kate Moss leave Pete Doherty because he cheated? If his junk problem didn't come between them, we're sure they can reconcile a moment of sluttiness..

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It's no secret PlanetOut Inc's been having some trouble.

Not only did the gay media company's stock take a tumble earlier this year, but ad pages have fallen in its primary titles, The Advocate and Out, a trend no doubt perpetuated by publisher Joe Landry's departure for BlackBook.

Now, in an attempt to turn things around, PlanetOut's publishing division, LPI Media, and a new publisher are hoping to take the titles in new direction: up.

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• Tory politico, Sir Simon Milton, has come out of the closet and will be marrying his long-time lover, Robert Davis. Of coming out, Milton remarks: "The time was right…We’re happy and excited. I would rather tell people myself than be the subject of rumour.”

• The murder rate for trans California women just keeps on rising

• Despite activist pressure, the FDA won't be lifting its "gay blood" ban.

• PlanetOut Inc's stock continues to fall.

• Kurt Cobain, Joey Ramone, other dead rock stars live! Wear Doc Martens!

• Ahhhh! It's Kylie Minogue's head! And it's floating!

• Lesbian alleges shelter left her out in the cold: "It was pretty clear the reason she put me on hold is because I said I was a lesbian."

• Did Dick Cheney hire hookers? From Roll Call: "Vice President Cheney isn’t not on the phone records of the alleged D.C. Madam, who is accused of running a high-price call-girl ring in Washington, the accused madam’s lawyer said on Tuesday."

More trouble for increasingly troubled gay media giant, PlanetOut Inc. As we reported last month, the owners of Out and Gay.com have been experiencing a bit of decline in recent years: stock prices have plummeted, publishers are leaving and people have canceled their subscriptions. Now comes distressing word that the once titanic PlanetOut's sinking to the bottom.

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• Justin Timberlake is to return to the Billboard charts with FutureSex/LoveSounds, his sophomore effort that sounds uncomfortably like he and Cam Diaz's bedroom soundtrack. [E!]

• It's a sad day when Nick Lachey is getting Ben Affleck's sloppy seconds. Especially when it comes to international marketing. And even more so when it has to do with a fragrance no man, gay or straight, should ever purchase. [MollyGood]

• Boy George is once again a top priority for law enforcement. Okay, not "top." After failing to show up in court Friday, a judge issued an arrest warrant for the performer — but isn't having the cops act on it till later this month. [E!]

• Gay media kingdom PlanetOut is naming Karen Magee as its new CEO, succeeding Lowell Selvin, who's leaving for medical reasons. Perhaps Magee can crack the whip and get new Out editor Aaron Hicklin to attend his own events. [GayWired]

A little dirty birdie sent us this note about the LPI/PlanetOut merger.

In reporting on the PlanetOut/LPI acquisition, I'm sort of surprised NO ONE in the media (especially you) has picked up on the fact that in the acquisition of Out and Advocate, PlanetOut(the first publicly traded gay company) now owns Alyson Publishing(who did Camper's book, but mostly publish Erotica) as well Freshman, Unzipped, and Men Magazine.

In short: Gay Porn hits NASDAQ big time!

• Still want more Madonna? How about this photo from the Roxy event with star dj Peter Rauhofer.

• Enrique Iglesias has a small pecker. And he is looking to help those like him with a new line of condoms for the unhung.

• Manhattan Offender turns the tables and interviews Bradford.

• PlanetOut Acquires LPI Media, publisher of Out and The Advocate, to form one really big and powerful gay company.

• Lesbian crooner kd lang is suing her ex-manager for “fraud.” Which is a nice way of saying she robbed her blind.