OnlyFans owner eyes US$8b deal with investors
LONDON: OnlyFans owner Fenix International Ltd is in talks to sell the adult entertainment platform to an investor group at a valuation of around US$8 billion (RM34 billion), three sources familiar with the matter told Reuters. The group is led by the Forest Road Company, a Los Angeles-based investment firm, the sources said. Reuters could not identify the investors in the group.
The investor group and current deal value have not previously been reported. OnlyFans, which exploded in popularity during the Covid-19 pandemic, is best known as an online platform that allows adult content creators to charge subscribers for content. OnlyFans takes 20% of creators' earnings. In the year ended November 2023, the company generated US$6.6 billion in revenue, according to a filing with British regulators. That is up from US$375 million in 2020, and this rapid growth has attracted investor interest.
Some executives at Forest Road were part of a special purpose acquisition company that was in talks to take OnlyFans public in 2022, according to sources and filings with the US Securities and Exchange Commission.
OnlyFans and Forest Road declined to comment.
One of the three sources and another source familiar with sale discussions said Fenix International Ltd is also in talks with other potential suitors.
The London-based company has drawn interest from several suitors in recent months.
Talks have been held at least since March, the people said. Three sources said a deal could be reached in the next week or two. The sources also cautioned that there was no certainty a deal will be struck and requested anonymity ahead of an official announcement.
An initial public offering is also being considered, three of the sources said.
The company's sole shareholder is Leonid Radvinsky, a Ukrainian American whose location could not be confirmed. He bought OnlyFans in 2018 and has paid himself at least US$1 billion in dividends over the past three years, British filings showed. Last year, Reuters published a series of investigative stories on OnlyFans that documented complaints in US police and court records that child sexual abuse material and nonconsensual explicit content has appeared on the site since 2019. The series also identified cases of sex traffickers using the platform to abuse and exploit women.
Adult content makes OnlyFans untouchable for many big banks and investors, sources have told Reuters, because due diligence might find illegal content such as child sexual abuse material, trafficking victims and nonconsensual explicit content.
The New York Post reported on Wednesday the company was exploring a potential sale.
Founded in 2017, Forest Road is an investment firm interested in media, renewable energy and digital assets, according to its website. Its ventures have included a Formula E racing team and in 2024 expanded its advisory business by acquiring a majority stake in ACF Investment Bank. – Reuters
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
41 minutes ago
- New Straits Times
US imports from China hit their 2020 minimum for second month in row in April
MOSCOW: The United States continued to reduce imports from China in April amid tightening trade policies, hitting their five-year minimum, a RIA Novosti analysis of US statistical data showed on Thursday. US imports of Chinese goods fell by 13 per cent month-on-month in April, amounting to US$25.4 billion. They were last lower during the COVID-19 pandemic in March 2020, when only US$19.6 billion worth of goods were imported. The US also reduced exports to China to US$8.2 billion, down from US$11.5 billion a month earlier. After high-level trade and economic talks in Geneva earlier in May, China and the US agreed to lower their reciprocal tariffs by 115 percentage points each for 90 days. Washington has cut tariffs on Chinese goods from 145 per cent to 30 per cent, while Beijing has reduced tariffs on American imports from 125 per cent to 10 per cent.
The Star
an hour ago
- The Star
UK to end ban on retail investors buying crypto exchange-traded notes
FILE PHOTO: Signage is seen for the FCA (Financial Conduct Authority), the UK's financial regulatory body, at their head offices in London, Britain March 10, 2022. REUTERS/Toby Melville/File Photo LONDON (Reuters) -Britain's financial regulator is to remove a ban on consumers buying crypto exchange-traded notes (ETNs), ditching its previous position of wanting to keep them out of the hands of retail investors. The Financial Conduct Authority said on Friday that allowing retail investors to buy ETNs would support growth and competitiveness, in the latest sign that the UK is shifting its approach to crypto as the government seeks to grow the economy and support a digital assets industry. Last year the FCA had approved the launch of crypto ETNs for professional traders but banned retail investors from access, calling the products "ill-suited" because of "the harm they pose". "We want to rebalance our approach to risk and lifting the ban would allow people to make the choice on whether such a high-risk investment is right for them given they could lose all their money," David Geale, executive director of payments and digital assets at the FCA, said in a statement on Friday. The proposal will now go out for consultation. Britain in April published draft laws for bringing cryptocurrencies under compulsory regulation for the first time, aligning it with the United States' approach, rather than the European Union, which has built rules tailored to the industry. To be sold to individual consumers, the ETNs will need to be traded on an FCA-approved investment exchange, the regulator said. A ban on retail investors trading cryptoasset derivatives would remain, the watchdog added. (Reporting by Tommy Reggiori Wilkes. Editing by Jane Merriman)
Focus Malaysia
an hour ago
- Focus Malaysia
Muted recovery outlook for Malaysian glove makers as sales volumes decline
THE Malaysian glove sector remains under pressure as persistent oversupply, cautious customer sentiment, and pricing competition continue to weigh on recovery prospects. The latest quarterly results from glove manufacturers under Public Investment Bank (PIB)'s coverage reflected a sequential decline in sales volumes, mainly due to earlier frontloading activities by US customers. 'We gather that customers remain cautious, with most adopting a wait-and-see stance, delaying sizeable purchases amid uncertainty from changes in tariff policy,' said PIB. In light of subdued demand visibility in the near term, PIB downgrades their sector call to Neutral from Overweight. The recent results from Malaysian glove manufacturers under their coverage indicate a quarter-on-quarter (QoQ) decline in sales volume, primarily due to earlier frontloading activities by US customers. While tariff adjustments have narrowed the average selling price (ASP) gap between China and Malaysia, China's glove prices remain relatively uncompetitive in the US market (USD27/1k pcs vs. Malaysia's USD20/1k pcs at an 80% tariff). However, the recent invocation of emergency powers has prevented President Trump from enacting broader tariff hikes. Assuming a more conservative scenario where China faces only a 10% reciprocal tariff, China's ASP will be at USD24/1k pcs, significantly closing the pricing gap with Malaysia. Additionally, Chinese producers may absorb part of the tariff cost to defend market share. This will likely keep global ASPs subdued and limit near-term recovery for Malaysian glove makers. Despite losing market share in the US market, Chinese glove manufacturers are aggressively increasing market share in the non-US market especially EU, pricing as low as USD14-15/1k pcs. China is currently expanding capacity outside of China in a bid to retain global competitiveness. 'We observed a 6% decline in natural latex, while nitrile butadiene prices fell by 22% between April – May 2025 compared to the Jan – March 2025 period,' said PIB. While this provides some buffer to sustain operating margins, it also limits the potential for upward revision in ASPs. We anticipate that overall raw material prices to stabilise in the second half of 2025. Meanwhile, USD has weakened against MYR to 4.30 level in May. Nevertheless, PIB does not anticipate any material impact on operating costs or profitability, as USD-quoted raw material costs only constitute 30% of total costs. Any cost savings in ringgit term will act as natural hedge against a lower translated revenue. The Malaysian glove sector remains under pressure, dragged by ongoing oversupply and subdued demand visibility. Key customers continue to adopt a cautious, wait-and-see approach, holding back on large-volume orders amid lingering market uncertainty. Meanwhile, raw material costs are trending lower, providing some cost relief but limiting the upside potential for ASPs. Given the subdued near-term outlook, PIB downgrades the sector rating to Neutral. —June 6, 2025 Main image: ASEAN Briefing
