In the current climate, you cant sell a paysite, let alone an entire program and get the true value from it. It'll always be worth more to the person holding it than the person buying it due to risk factors.
The person who is currently holding the program has already made his/her capital investments. If it's at least cash flow positive, he's out nothing to stand pat.
The would-be buyer on the other hand is going to be out whatever the purchase price is. He's putting at least that much at risk. Now this is true of any business purchase. However, you normally price it at something like 3 times annual revenue. You can reasonably predict how much the cash flow is and how long it'll take to make it all back. The catch with adult is at any time any number of factors could cause extremely adversal effects to your income string. Visa could change the rules again, the Feds could go after any website with an exposed tit outside of a members area, or any other number of scenarios.
And even under the best case scenarios I dont think you can assume you'll run an adult business the same way 3 years from now that you run it right now. So the results are not predictable under any circumstances.
The end result of all of this, is you want out, you basically let it go at firesale pricing and enjoy what you earned in years past.
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