PlanetOut Faces Delisting From Nasdaq

PlanetOut, a media and entertainment firm focused on the gay and lesbian market, said on Tuesday that it has received notice from the Nasdaq that its not maintained a minimum market value of $5 million for the past 30 days -- a requirement for continued listing on the exchange.

The struggling company now has until Oct. 30 to regain compliance or its shares will be delisted from the exchange.

San Francisco-based PlanetOut, which owns websites including Gay.com and PlanetOut.com, said last month that its accumulated deficit had grown to nearly $100 million.

The company sold off its RSVP cruise ship line for an undisclosed sum last year, and in April sold off its OUT and Advocate magazines for $6 million.

About PlanetOut Inc.
PlanetOut Inc. is a leading media and entertainment company exclusively serving the lesbian, gay, bisexual and transgender (LGBT) community.

PlanetOut's digital media brands include Gay.com, PlanetOut.com, Advocate.com, Out.com, OutTraveler.com and HIVPlusMag.com. PlanetOut print media brands include The Advocate, Out, The Out Traveler and HIVPlus, as well as SpecPub, Inc. titles. Transaction services brands include e-commerce Web sites Kleptomaniac.com and BuyGay.com, and book publisher Alyson Publications.

PlanetOut, based in San Francisco with additional offices in New York and Los Angeles, offers advertisers access to what it believes to be the most extensive multi-channel, multi-platform network of gay and lesbian people in the world. planetoutinc.com.