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Porn arrives on Plus

Created:
14 February 2008
Written by:
Claer Barrett

The first publicly-listed pornographic publishing business is set to start trading on the junior Plus Market next week.

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Interactive Media, a shell group, has raised £700,000 through a placing and will acquire the privately owned Trojan Group through a reverse takeover when it lists on 19 February. The group has built up a large portfolio of top-shelf titles, including the adult magazines empire founded by Daily Express proprietor Richard Desmond, which boasts publications such as Asian Babes and Forty Plus.

Trojan also publishes lifestyle magazines including Women's Fitness, What Diesel Car? and poker enthusiast’s title Flush. Its existing chief executive Justin Sanders will head the new company.

Interactive has raised a further £100,000 through a private placing, and says it will direct £500,000 towards the "aggressive acquisition" of more titles in the magazines in the consumer lifestyle sector. It will also use internet publishing to "realise further commercial value" for its stable of publications. In its application document, the company said that trading as a public vehicle would increase its ability to enter into negotiations with vendors of magazine titles or businesses.

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FairlyPriced

It is tempting to regard pornography as the ultimate recession-proof investment. But it's not that simple. Interactive will have to cope with the same structural issues as any other publisher, most obviously, the fragmentation of audiences onto the internet. The move into lifestyle publishing adds a layer of respectability, but this is already a crowded market.

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