Akerman Reps Penthouse Parent In $65M Deals Site Buy

Law360, New York (September 12, 2011, 5:48 PM EDT) -- FriendFinder Networks Inc., publisher of Penthouse magazine and two dozen adult social networking sites, said Monday it will acquire global daily deals website JigoCity in a deal worth up to $65 million.

Through the merger, JigoCity's offerings will gain exposure to roughly 450 million users worldwide of FriendFinder sites, which include adult offerings Adultfriendfinder.com and PeekTV.com. FriendFinder, in turn, will be able to tap into the daily deal provider's growing presence in emerging Asian and South American Markets.

“We're doing exactly what we said we would...
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