• 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.

CONTINUED »

So check this: first off, we hope you read our post about PlanetOut's financial slide. If you haven't, we promise you that the Morning Goods guys aren't going anywhere, and everyone in the gay community needs to know about the PlanetOut debacle—even if they don't own stock in the company or could care less about reading another gay magazine ever again. Why? Well, for one thing, it's a warning to any of you gambling types who may be out there why you shouldn't mess around with insider trading.

Although you might as well now—PlanetOut was traded under the symbol "LGBT," a name they originally chose with pride, we're sure. Of course, time went on and they became the greedy sell-out fucks we know them as today, but the call letters of the company remain sadly unchanged. If you were sifting through the stack of government docs with titled like "LGBT Insider Trading"well, if you didn't know your stocks, you'd think they were talking about anyone and everyone in the entire gay community, wouldn't you?

We'll keep you posted...

Down on page 15 of their 2006 SEC filing, PlanetOut can't keep up the charade any longer and just admits it:

"We have a history of significant losses," they declare, outlining a litany of past failures and the myriad events that could lead to the company going out of business altogether. "If we do not regain and sustain profitability," the filing continues, "our financial condition and stock price could suffer."

Well, it did. And it continues to suffer. As the largest owner of gay media in America—their trading symbol is "LGBT" for crying out loud—one has to wonder what the consequences would be if PlanetOut (and all its subsidiaries: Gay.com, PlanetOut.com, Advocate.com, Out.com. The Advocate, Out , Out Traveler, HIVPlus, et.al.) was suddenly no more.

What's that? You say you're shocked to find Queerty knows its way around an SEC filing? Well, hold onto your chiseled asses, then, boys, because you're going to be downright shocked when you read what John Carney of Dealbreaker said when we asked if he could give us a true pro's opinion on the reasons behind PlanetOut's ongoing 12-month decline...

CONTINUED »

• 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.