You will be redirected back to your article in seconds

Porn distrib New Frontier gets takeover bid

Investment firm Longkloof Ltd. offers $1.35 a share

Boulder, Colo.-based New Frontier Media, a top adult entertainment distrib, said it’s received an unsolicited takeover offer from investment firm Longkloof Limited, which has offered to acquire outstanding shares for $1.35 each.

The board said it has formed a committee to evaluate the offer from Longkloof, which is based in the Channel Islands and owns 15% of New Frontier already. New Frontier, which is almost a penny stock, saw its shares spike nearly 16% to $1.31 on Friday.

In an open letter to New Frontier, Longkloof said the company has refused to engage in constructive dialogue despite numerous attempts “over the past few weeks to engage in meaningful discussions with your regarding our interest in acquiring” the business. It chided the board for what it called a “dismal record” that saw the stock sink from more than $9 five years ago.

New Frontier’s assets include the Erotic Network, a pay-per-view service with six channels and Penthouse TV, which it distributes.

More Film

  • Julia Roberts, Lucas Hedges to Star

    Julia Roberts, Lucas Hedges to Star in Drama 'Ben Is Back'

    Boulder, Colo.-based New Frontier Media, a top adult entertainment distrib, said it’s received an unsolicited takeover offer from investment firm Longkloof Limited, which has offered to acquire outstanding shares for $1.35 each. The board said it has formed a committee to evaluate the offer from Longkloof, which is based in the Channel Islands and owns […]

  • Phantom Thread Daniel-Day-Lewis

    Watch the Stunning Trailer for Daniel Day-Lewis' Final Film, 'Phantom Thread'

    Boulder, Colo.-based New Frontier Media, a top adult entertainment distrib, said it’s received an unsolicited takeover offer from investment firm Longkloof Limited, which has offered to acquire outstanding shares for $1.35 each. The board said it has formed a committee to evaluate the offer from Longkloof, which is based in the Channel Islands and owns […]

  • Judith Light

    Judith Light, Roberta Colindrez to Star in Drama 'Ms. White Light' (EXCLUSIVE)

    Boulder, Colo.-based New Frontier Media, a top adult entertainment distrib, said it’s received an unsolicited takeover offer from investment firm Longkloof Limited, which has offered to acquire outstanding shares for $1.35 each. The board said it has formed a committee to evaluate the offer from Longkloof, which is based in the Channel Islands and owns […]

  • Negative Space animated short by Max

    Award-Winning Animated Short 'Negative Space' Makes Online Debut

    Boulder, Colo.-based New Frontier Media, a top adult entertainment distrib, said it’s received an unsolicited takeover offer from investment firm Longkloof Limited, which has offered to acquire outstanding shares for $1.35 each. The board said it has formed a committee to evaluate the offer from Longkloof, which is based in the Channel Islands and owns […]

  • Paddington 2

    'Paddington 2' Producers Seek to Exit Distribution Deal With Weinstein Company

    Boulder, Colo.-based New Frontier Media, a top adult entertainment distrib, said it’s received an unsolicited takeover offer from investment firm Longkloof Limited, which has offered to acquire outstanding shares for $1.35 each. The board said it has formed a committee to evaluate the offer from Longkloof, which is based in the Channel Islands and owns […]

  • Ashley Judd

    Ashley Judd Sets First TV Interview After Harvey Weinstein Allegation

    Boulder, Colo.-based New Frontier Media, a top adult entertainment distrib, said it’s received an unsolicited takeover offer from investment firm Longkloof Limited, which has offered to acquire outstanding shares for $1.35 each. The board said it has formed a committee to evaluate the offer from Longkloof, which is based in the Channel Islands and owns […]

  • 'Suburbicon' film premiere

    George Clooney 'Glad' Academy Took Action Against Weinstein: 'It's Long Overdue'

    Boulder, Colo.-based New Frontier Media, a top adult entertainment distrib, said it’s received an unsolicited takeover offer from investment firm Longkloof Limited, which has offered to acquire outstanding shares for $1.35 each. The board said it has formed a committee to evaluate the offer from Longkloof, which is based in the Channel Islands and owns […]

More From Our Brands

Access exclusive content