#Pornhub parent bought by Canadian private equity firm

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“Pornhub parent bought by Canadian private equity firm”

Canadian private equity firm Ethical Capital Partners announced Thursday its purchase of beleaguered MindGeek which operates Pornhub, the world’s biggest pornography site.

The terms of the transaction were not disclosed.

MindGeek, which is headquartered in Luxembourg but has large offices in Montreal, has been the target of several lawsuits alleging it profited from the distribution of child pornography and nonconsensual sex videos—which it has denied.

“We are engaged with the team at MindGeek and with stakeholders, including content creators, advocates, law enforcement, civil society partners and policy makers to inform our efforts and strengthen MindGeek’s secure platforms, going beyond legal and regulatory obligations,” Solomon Friedman, a founding partner of Ottawa-based ECP, said in a statement.

Founded in 2004, MindGeek operates a large portfolio of adult entertainment sites, including Pornhub, YouPorn, Redtube and Men.com.

The market leader in internet porn, however, has faced a growing backlash since the New York Times in December 2020 published an article in which Pornhub was accused of posting illegal content online, including child pornography and rape videos.

That led Canadian lawmakers to grill executives about alleged abuses, while Mastercard and Visa suspended payments on Pornhub. Its top executives resigned in June 2022.

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Pornhub parent bought by Canadian private equity firm (2023, March 17)
retrieved 17 March 2023
from https://techxplore.com/news/2023-03-pornhub-parent-bought-canadian-private.html

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