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Steel Partners' Porn Plan
Steel Partners' Warren Lichtenstein wants to get into the porn business.
New Frontier Media (NOOF Quote), a distributor of erotic films via cable and satellite television, says Lichtenstein recently indicated he would be interested in "leading a management buyout" of the Colorado-based company.
Shares of New Frontier rose 62 cents, or nearly 8%, to $8.51 on the news of the buyout proposal. The stock has been climbing ever since the company reported better-than-expected first-quarter earnings on Aug. 8. ...
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