PlanetOut Sells Majority Stake For $26.2 Million

PAID CONTENT.ORG -- July 2 -- PlanetOut which operates websites, magazines and travel services for the gay and lesbian community just sold 56% of it's company for $26.2 million. Buyers include Cascade Investment (of which Bill Gates is an investor) as well as SF Capital Partners, PAR Investment Partners and Allen & Co. PlanetOut has had difficulty since making numerous acquisitions following its IPO in October 2004. FULL ARTICLE @ PAID CONTENT.ORG