San Francisco - PlanetOut (NASD: LGBT), 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.

San Francisco - Gay media firm PlanetOut (NASD: LGBT) announced on Thursday that it will sell its publishing business -- which includes the magazines Out and The Advocate -- to fellow gay media firm here Networks for $6 million.

San Francisco - PlanetOut (NASD: LGBT), the publisher of gay magazines The Advocate and Out and operator of websites including Gay.com, announced on Tuesday that it has retained Allen & Company to assist in the exploration of strategic alternatives, including a possible sale of the company.

* A correction has been made to this story.
San Francisco - PlanetOut, a media company focused on the LGBT community that publishes The Advocate and OUT magazines, and operates Gay.com, has announced plans to effect a one-for-ten reverse stock split.

Los Angeles - Mark Elderkin, the founder of Gay.com and former president of gay media company PlanetOut, has launched the Gay Ad Network, a vertical online advertising network comprised of over 200 websites targeting the LGBT community. Launch partners include local gay newspapers, national gay magazines, gay content websites and gay social networking services, such as the Washington Blade; Genre Magazine; OutSports; Connexion.org; TheLWordOnline.com; and ProudParenting.com. The company will use online ad firm Adify's self-service ad platform for its offering.

San Francisco - Gay media firm PlanetOut, the publisher of The Advocate and owner of Gay.com that has been struggling financially of late, said on Thursday that it has laid off about 15% of its staff.

San Francisco - Gay media company PlanetOut announced on Thursday that it will close its international offices in Buenos Aires and London. The struggling San Francisco-based company last week raised $26.2 million in new financing, up against a deadline to raise funds to pay off existing loans. "While we plan to continue serving our global audience, we made this decision to streamline our business operations and reduce expenses," said PlanetOut CEO Karen Magee.

San Francisco - PlanetOut, a publisher of print and online media for the gay community, including The Advocate and Gay.com, announced on Monday that it has raised $26.2 million in financing through a private placement of its shares.