Despite Bill Gates’ investment, PlanetOut continues to have problems.

According to news reports, PlanetOut has retained Allen & Company to assist in the exploration of strategic alternatives, including a possible sale of the company.

I continue to believe that the Gay & Lesbian media and advertising market continues to be an excellent market in the long run. In fact, if PlanetOut finds the right acquirers for its properties, it could make them stronger. If not, there will be opportunities to fill the holes left by the 800 pound gorilla in this market.

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