Penthouse To File For $250 Million IPO

Penthouse Media Group, the troubled adult media company, plans to file for a $250 million IPO, the company has announced. It says it plans to file the S-1 in Q2 of this year. Penthouse acquired Various Inc. for $500 million in December 2007.
Penthouse attempted an IPO in 19993, and recently filed for bankruptcy protection. They need an IPO windfall put themselves back on track.