Video: Larry Flynt Discusses Plans for IPO
BEVERLY HILLS, Calif. — Larry Flynt, who recently revealed he's considering taking LFP Inc. public through an initial public offering, was interviewed yesterday by Bloomberg TV.
In the interview, Flynt said that his adult empire's cornerstones are quality and diversification and that if the IPO goes through, there will be an expansion in the company's gaming and broadcast divisions, which has seen a 35 percent rise in revenue over the past year, he says.
"We are the largest adult entertainment company in the world by far," he said "We are the No. 1 content provider going into 67 markets worldwide."
Hustler's founder said that underwriters to the offering may or may not give it the green light. The company, he noted, has a lot of cash on hand.
"We don't have to go public. We'll have to see if it makes sense," he said.
Flynt also weighed in on the plethora of free adult content on the web, as well, and said it is likely to disappear.
"These people who are putting all this free pornography are just desperate," Flynt said. "They are just trying to squeeze a profit out."
"This is going to disappear," he said. "People like quality. It used to be that pornography was watched only by men; now couples watch it. The country needs to wake up and realize that."
LFP Inc. manages the Hustler brand of adult products and services, including more than 60 websites, 11 retail stores; Hustler magazine; DVD distribution through its Hustler Video, VCA and HIS brands; a Hustler casino in Gardena, Calif., and 11 Larry Flynt’s Hustler clubs.
In 2012, LFP purchased Boulder, Colo.-based New Frontier Media, a broadcast company, which at the time also was publicly traded. That year, LFP also acquired broadcast outlet Sapphire Media in London.