New Frontier Media, Inc. the parent company of TeN, a Boulder, CO-based adult entertainment pay-per-view and subscription cable/satellite service, will acquire Interactive Gallery, Inc., Los Angeles, an e-commerce and technology company that also distributes adult Internet content. Terms of the letter of intent have not been disclosed.
Privately held IGI sells memberships to consumers who access content from IGI’s numerous adult Web sites, and also sells and distributes content to thousands of adult Web sites. IGI’s revenue is projected to exceed $21 million for the 12 months ending March 31.
“This acquisition marks the beginning of our aggressive campaign to consolidate the estimated $1 billion adult Internet industry,” said New Frontier Media’s chairman and CEO Mark H. Kreloff in a statement. “Many of IGI’s affiliated Web sites are interested in both our consolidation strategy, and in owning equity in one dominant player’s stock.”
New Frontier Media, Inc. is a diversified entertainment company primarily engaged in the electronic distribution of adult entertainment via subscription and Pay-Per-View cable/satellite television, and the Internet.
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