Monday, July 02, 2007
PlanetOut gets emergency bailout
The parent company of RSVP Vacations, The Advocate and Out magazines plus other businesses said today that it's nailed down an emergency $26.6 million cash infusion from investors -- forestalling, at least for now, the threatened collapse of the San Francisco-based gay conglomerate. Even so, the negative publicity already generated by PlanetOut's near failure may have done too much damage to its reputation. Who's going to shell out thousands of dollars for an RSVP cruise when there are doubts about the company's survival?