Porn Pushing Publisher Mulls IPO for 'Adult' Channels

20 February 2007

LONDON: Having three years ago disposed of Northern & Shell, his unsavoury magazine publishing empire, British splatterpunk pedlar Richard Desmond is reportedly mulling an initial public offering for Portland Television, his privately-held company based in the Channel Islands.

Desmond, these days semi-sanitized by his proprietorship of four national newspapers, also runs Portland which airs twenty-five channels, at least two of which - Red Hot and Television X tout fare of appeal to prepubescent males of all ages.

To add a needed ritzy touch to the IPO Desmond has hired Scottish fiscal presence Sir Angus Grossart, a serial company director and proprietor of a miniature investment bank with the reassuring name of Noble Grossart.

Until 2004, Desmond was also the proud publisher of such magazine titles as Asian Babes, Big Ones and Readers' Wives.

Data sourced from Financial Times; additional content by WARC staff