American Samizdat

Tuesday, April 09, 2002. *
Cybersmut and Debt Undermine Penthouse: Bob Guccione acknowledges that Penthouse is going under. Ill-conceived plans to diversify into 'legitimate' businesses have not succeeded and the highly-leveraged company's revenues are falling dramatically because of free online porn. Not to be outdone, Guccione has his sights set on moving his smut-peddling to the internet.
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