San Francisco - PlanetOut, a media firm focused on the LGBT community, has laid off at least a third of its staff, CNET News.com reported, citing a PlanetOut contractor and a former employee.

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.