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Manwin Throws in the Towel on New Frontier Media Deal

LUXEMBOURG — from www.xbiz.com – Manwin said Tuesday evening it won’t get into a bidding war for New Frontier Media, which yesterday made an agreement with LFP Broadcasting to purchase the company for $33 million.

New Frontier Media in March received a $24.3 million cash offer from Manwin, the adult entertainment conglomerate that operates Playboy TV and numerous other adult properties.

But one day after LFP said it would pick up New Frontier Media in an all-cash deal, Manwin officials said the adult entertainment pay-per-view and video-on-demand company wouldn’t be a good fit and has decided to pass on any challenge to acquire the Boulder, Colo.-based company.

“We have looked closely at this for some time and feel that New Frontier Media is a better fit for LFP than it is for Manwin,” Manwin spokeswoman Kate Miller told XBIZ. “Thus, we do not want a fight and will not start a bidding war.”

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