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PlanetOut Comes To Its Senses

0607-cruise-ship-1-1.jpg
Recommitting themselves to their media outlets, PlanetOut executives announced that they’ll sell cruise line boat chartering RSVP to former competitor Atlantis.

PlanetOut CEO Karen Magee says the company, which publishes Out and The Advocate, will get back to its roots:

From a corporate perspective, we believe this transaction demonstrates to our shareholders that we are continuing to deliver on our commitment to leverage our strengths by simplifying our business model and emphasizing our core competencies. We are focused on ensuring that we are in the best position to realize our full potential as the leading media and entertainment company exclusively serving the LGBT market, while also strengthening our balance sheet.

The move shouldn’t come as a surprise: the company’s been fighting financial disaster for months and many predicted PlanetOut would ditch the cruise line. The company also recently reverse split its stock, compressing ten shares into one.

Those shares are currently trading at $12.65.

By:           Andrew Belonksy
On:           Oct 12, 2007
Tagged: , , , , , , , ,

  • 3 Comments
    • Mrs Patrick Campbell
      Mrs Patrick Campbell

      We once knew a dear sister(actually she was our best friend and dearest sister) who was in the travel/tours business. She said that these ‘fruit cruises’ are an absolute GOLDMINE for the organizers. She said a ship can be chartered relatively cheap, a few porn stars and other ‘professionals’ & drug dealers hired to stoke the fun, and the tickets are sold for outrageous prices(for what is actually delivered) that the profit margins will knock your eyeballs out!

      Oct 12, 2007 at 10:43 am · @ReplyReply to this comment ·
    • Brad
      Brad

      Just to clarify, RSVP isn’t a cruise line. It’s a company that charters ships that are part of other fleets for thier sailing. Lines like Royal Caribbean, Holland America Line, etc.

      You guys don’t need to POST my comment if you don’t want to, but wanted to clarify the info you put out. :)

      Oct 12, 2007 at 3:49 pm · @ReplyReply to this comment ·
    • Gregg
      Gregg

      Wow. A nameless “source”. Sounds really believable. I’m sure people who are dealing with million dollar figures in a gay cruise business are going to risk it all to hire drug dealers. You, my dear, sound like an idiot who has never been on these cruises.

      Oct 12, 2007 at 3:52 pm · @ReplyReply to this comment ·

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