San Francisco - Following months of financial struggles, PlanetOut, the San Francisco-based media and entertainment firm focused on the gay and lesbian market, said that it has signed a deal to merge with Regent Media, the Los Angeles-based owner of gay-focused cable network Here Networks. The move comes nearly five months after Regent acquired PlantOut's publishing assets, including Out and The Advocate magazines. The combined public company will be called Here Media Inc., with Here founder and CEO Paul Colichman as CEO. "Our board concluded that the opportunity to combine with Here Networks and Regent Entertainment Media was in the best interests of PlanetOut's stockholders," said Karen Magee, PlanetOut's CEO. "We believe that the strategic fit between PlanetOut and Here Media… will result in a combined company with greater financial and market strength than either business on its own."

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http://www.planetoutinc.com/press/releases/?sernum=1738