What’s Up With PlanetOut?

It’s been a little over two months since gay media giant PlanetOut put itself on the auction block. So, what’s happening with the company?

First and foremost, book wholesaler Bookazine snatched up a piece of the company’s Publishers Distributing Company, which includes Bruno Gmunder Verlag and Starbooks Press.

Meanwhile, PlanetOut’s magazines, including The Advocate and Out, remain the big mystery, with sources telling us more people were interested in a buy than executives anticipated.

While nothing’s set in stone, there are murmurs that Regent Entertainment, which owns queer cable channel here!, has been circling the gay glossies. One speculator described a sale as “imminent”.

Any one out there hearing more details on these developments?