It’s been a while since we’ve heard a juicy rumor.

Valleywag says:

What’s going on over at FriendFinder Networks, née Penthouse Media Group? Apparently the effort to migrate into an online publishing and social networking powerhouse is being hampered by developers dissatisfied with working conditions and an inability to hire new staff — even though supervisor Anthony Previte threatened he could replace the disgruntled employees at a whim, according to a tipster.

This could affect the planned $250 million IPO. Then again, consider the source. Still, makes for a juicy Friday rumor.

Related posts:

1. Penthouse Acquires Various, Inc.
2. Rumor: FriendFinder Acquired for $1 billion
3. Blog Problems

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.

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