Long in the works, Here Networks LLC announced today the official completion of the "business combination" of Here Networks LLC and its publishing affiliate, which includes the LGBT publications The Advocate and Out, with PlanetOut Inc. The new public company that has resulted will be named Here Media Inc. with Stephen P. Jarchow serving as Chairman and Paul Colichman serving as CEO.
Last Wednesday, June 10th, the holders of a majority of the outstanding shares of PlanetOut Inc. common stock voted to approve the proposed business combination. Jarchow and Colichman, along with current PlanetOut Inc. Chairman Phil Kleweno, will serve as the initial board of directors of Here Media.
"The close of this deal represents an exciting moment for LGBT consumers across the globe," said Stephen P. Jarchow and Paul Colichman, in a statement. "We look forward to bringing new features that will enhance the user experience and keep our customers engaged."
Here Media now owns and operates an extensive variety of media assets including: Here Studios, a full service motion picture studio; Here Films, a motion picture distribution; here! Networks, a premium television network; Print brands including Out, Advocate and HIV Plus, as well as Alyson Books; Online properties including Gay.com, Planetout.com, Advocate.com, Out.com and SheWired.com.