Chatsworth / California / United States
Bob Buccione founded Penthouse in 1965 with the intention of offering an urban lifestyle article, soft-core pornographic pictorial magazine. Initially, Penthouse fell in between Playboy and Hustler in terms of explicitness. Penthouse attempted to maintain a level of reading content, although usually of a more sexually-oriented nature than Playboy s. In 1998, Penthouse decided to change its format and began to feature sexually explicit pictures. The new format saw to a decline in subscriptions and newsstand circulation for the magazine. In 2003, General Media, the parent company of Penthouse, filed for Chapter 11-bankruptcy. In October 2004, General Media surfaced from bankruptcy and was renamed the Penthouse Media Group. Penthouse is now owned by Marc Bell, a south Florida real-estate developer, who intends to soften the content of the magazine. Penthouse Media Group issues four monthly publications, produces and distributes videos and offers online content. Its headquarters reside in New York City.
