Killed by Internet, Penthouse Worth 'Less Than Zero'

In August on the Poynter Institute’s E-Media Tidbits site, we’d reported that Penthouse Magazine Publisher Bob Guccione, Sr. had lamented, “The future has definitely migrated to electronic media” and how he admitted that there may no longer be a future for magazines such as Penthouse.” (Women’s Wear Daily) today reports that Guccione’s creditors — who are selling the magazine, its Internet operation, and Guccione’s mansion, as part of the bankruptcy proceedings — think Penthouse is worth less than zero.