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Oct. 7, 2004 / 3:50 PM

Penthouse emerges from bankruptcy

NEW YORK, Oct. 7 (UPI) -- Penthouse Media Group of New York Thursday emerged from Chapter 11 protection under the control of PET Capital Partners LLC.

Penthouse Media Group Inc. was formerly known as General Media Inc.

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The company said PET is an affiliate of Marc Bell Capital Partners LLC, a Florida-based private investment firm.

PET owned about 89 percent of the senior notes of General Media Inc. prior to its emergence from bankruptcy.

The company is the publisher of several magazine titles including Penthouse and Penthouse Letters and has related ventures in Internet, video and product licensing.

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