PAID CONTENT.ORG -- July 2 -- PlanetOut which operates websites, magazines and travel services for the gay and lesbian community just sold 56% of it's company for $26.2 million. Buyers include Cascade Investment (of which Bill Gates is an investor) as well as SF Capital Partners, PAR Investment Partners and Allen & Co. PlanetOut has had difficulty since making numerous acquisitions following its IPO in October 2004.
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