Avn Sold ?

[gonzo]

--Gene Ross

The Grand Vizier called me this afternoon and said he had news for me. I said I had news for him. Turns out it was the same news. The Vizier says the strong rumor is that AVN has been acquired by iPorn which is basically AdultVest, a company owned and operated by Francis Koenig.

Last year there was a rumor that AVN, which has already sold off its trade and award shows, was being bought out by Rick’s Cabaret. Which would have made sense because Rick’s had purchased both Exotic Dancer and Adult Store Buyer magazines. And that’s the direction Rick’s seemed headed. But the AVN talks didn’t come to fruition for whatever.

The AdultVest rumors would make a lot more sense because AdultVest concentrates on industry investments, mergers and acquisitions. In fact, AdultVest bought iPorn back in April.

The Vizier says the buzz began in earnest last week when news leaked that AVN’s Farley Cahen resigned to go to Digital Playground. Cahen was the Director of Corporate Licensing for AVN and was long considered AVN’s fair haired boy. Adding to the speculation that something's up, was an ad placed on Journalismjobs.com looking for someone to replace Dan Miller, the magazine's editor-in-chief.

According to sources, the AVN purchase includes GayVN, the novelty magazine, AVN OnLIne and AVN itself. The rumored purchase price is $6M.