Friday, January 9, 2009

PlanetOut Merges With Here Networks and Regent Entertainment Media

San Francisco-based PlanetOut, a media firm focused on the lesbian, gay, bisexual, and transgender market, said Thursday that the firm has signed a definitive merger agreement with Here Networks LLC and Regent Entertainment Media. According to the firm, the new firm--to be called Here mEdia Inc.--will be funded by $4.7M in cash from Here Networks and Regent Entertainment Media. Here Networks is a content developer fo the cable and satellite television market, and Regent Entertainment is a publisher of magazines such as The Advocate. All three companies will become subsidiaries of Here Media. PlanetOut was advised by Allen & Company, with Viant Capital LLC providing a fairness opinion, and Howard Rice Nemerovski Canady Falk & Rabkin serving as legal counsel. Here Networks and Regent Entertainment Media were represented by Mayer Brown LLP.