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 - 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 - 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.