Boca Raton, Fla. - Penthouse Media Group, the publisher of Penthouse magazine and provider of other "adult entertainment and lifestyle" content, announced on Wednesday that it has filed for its initial public offering of stock to raise an estimated $250 million.

"The net proceeds of the offering will be used primarily to discharge existing indebtedness," the company said in a press release. "The size, nature and manner of the offering are subject to change."

Penthouse was founded in 1965 in the U.K. by Bob Guccione, and began publishing in the U.S. in 1969.

In December 2007, the company acquired Various, an operator of dating and social networking sites including AdultFriendFinder, for $500 million.

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