Print Media

Bill Gates Rescues PlanetOut

Gaytes_bill_2 Word leaked out over the holiday break that someone had come to the rescue of troubled gay media empire PlanetOut, whose stock (Nasdaq: LGBT) closed at a paltry $1.66 a share on Tuesday. A news release said that the company had (mysteriously) raised "$26.2 million in private placement financing." The Seattlest is now reporting that it was Microsoft co-founder Bill Gates, aka the second richest man in the world, who did the good deed, keeping the doors open at The Advocate,, and Out magazine for the foreseeable future.

Some have suggested this may be Gates' attempt at redeeming himself for letting Microsoft go neutral on Washington state gay rights legislation a couple of years ago, but given the fact that that the gays are just wild about Macs, perhaps he's trying to woo some to the PC world.

Whatever the case may be, it's good that The Advocate will be around. It would be sad to see another 40-year-old gay put out to pasture. And with the sharp-as-a-tack Anne Stockwell in charge over there, the seemingly erstwhile magazine could still have its best years ahead of it. And the boys still need for those hookups dating purposes, don't they? Nice work, Mr. Gates!

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  1. I almost have the stamina for Melissa, Ellen and Martina on the cover of The Advocate every other week. What I can't put up with is having Melissa and Ellen's lovers on the cover in the intervening weeks.

    Not interested in our cover subject—who Ellen's just about through with? Be sure to pick up the next issue with our exclusive interview with whoever her NEW girlfriend turns out to be!

    Posted by: 24play | Jul 6, 2007 10:54:01 AM

  2. Having worked for PlanetOut in the past I would have to agree that the upper management doesn't really understand or it's membership. In order to lure in advertisers they are willing to engage in a lot of masturbatory wishful thinking to arrive at the conclusion that "hooking up" is not the primary purpose for users being in the chat rooms.

    Were it not for the fact that PlanetOut produces other far more important gay publications their failing profits would be shrug worthy. Failures elsewhere in that company mean the possible disappearance of the important magazines and books that are produced by PlanetOut.

    Going public was the worst thing that ever happened to this company in my opinion.

    Posted by: Anooonymoose | Jul 6, 2007 11:48:57 AM

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