OnlyFans' Ukrainian owner plots £6bn sale of adult site
OnlyFans, the British website that allows people to cash in on adult photos and videos, is in talks to sell itself for $8bn (£6bn) to an investment company connected to former Disney executives.
Fenix International, the holding company that owns OnlyFans, is in talks with a consortium led by the Forest Road Company, a Los Angeles-based investment firm that counts former senior Disney executive Kevin Mayer as a board member.
Negotiations have been taking place since at least March and it is understood that a deal for the porn, fitness and cooking platform could be signed within two weeks, Reuters reported.
A sale would represent a significant windfall for Ukrainian-American porn baron Leonid Radvinsky, who bought OnlyFans for an undisclosed sum from its British founders in 2018.
Companies House records list Mr Radvinsky as Fenix's sole shareholder, although the company describes him as its 'majority' owner.
OnlyFans positions itself as a broad church of online influencers selling fitness, cooking and lifestyle videos, but is best known for a porn empire of millions of self-employed adult stars. The company was set up by Essex entrepreneur Tim Stokely with financing from his father Guy, a former investment banker.
The negotiations come three years after Forest Road previously sought to take over the entertainment website through a so-called blank cheque company that had raised $350m from Wall Street.
The shell company was managed by a group of former Disney executives including ex-finance chief Thomas Staggs. Axios reported that it walked away with concerns about OnlyFans' pornographic focus.
Forest Road provides financing to the television and film industry, with clients including ITV and Netflix, and owns an indie film distributor. It has also invested in a Formula E racing team and clean power projects.
Sources told Reuters that OnlyFans was also in talks with other potential suitors. A stock market flotation is also being considered, sources claimed.
However, the adult content on the site is understood to make OnlyFans untouchable for many big banks and investors.
The potential payday for Mr Radvinsky, 42, comes on top of £1bn in dividends from OnlyFans he has banked over the past five years.
The company has rapidly grown under Mr Radvinsky's ownership. Its revenue rose by 20pc in 2023 to $1.3bn. That was up from $375m in 2020.
Mr Radinsky, who was born in the southern Ukrainian city of Odesa but moved to the US as a child, keeps a low profile although he is understood to live in Florida.
He currently runs a venture capital fund that supports technology start-ups.
However, the economics graduate is best known for setting up a string of pornography-related websites, including the streaming website MyFreeCams. That site, where adult models broadcast themselves stripping in exchange for tips from viewers, became one of the most visited sites on the internet.
Forest Road declined to comment. OnlyFans was approached for comment.
Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time Business News
33 minutes ago
- Time Business News
Trump's New 2025 Policies Shaping the Future of USA
As President Trump's second term begins, the focus has shifted to Trump's new policies 2025, which aim to reshape several key areas of the American system. These include immigration, the economy, healthcare, and foreign affairs. This article covers factual highlights of new policies 2025 in USA, offering insight into how they may impact the average American and the broader global landscape. This update is brought to you by Words Craze at Wordscraze. One of the first changes implemented in Trump's new policies 2025 relates to immigration. The administration has reinstated strict border enforcement and limited the number of work visas available annually. This approach follows the 'America First' principle seen in his previous term. Under the new plan: Asylum applications now face shorter deadlines and stricter criteria. now face shorter deadlines and stricter criteria. Deportation procedures have been streamlined, increasing processing efficiency. procedures have been streamlined, increasing processing efficiency. Funding has been redirected toward expanding border surveillance technology. Supporters claim this will protect American jobs, while critics argue it may negatively affect industries reliant on migrant labor. In 2025, President Trump's economic focus is centered on domestic manufacturing and reducing dependency on imports. A new tax incentive program has been rolled out to encourage companies to bring manufacturing back to the USA. Key economic measures include: Corporate tax relief for U.S.-based manufacturers. for U.S.-based manufacturers. Tariffs on select imported electronics and steel products. Subsidies for American energy production, especially oil and coal. By refocusing trade strategy, the administration hopes to boost job creation and narrow the trade deficit. While this might increase consumer costs, Trump's team believes long-term gains will offset short-term price hikes. Among the most debated topics in new policies in 2025 is healthcare reform. Trump's administration has announced a rollback of some Affordable Care Act (ACA) mandates, promising to reduce insurance costs and promote competition. The policy includes: Ending mandatory coverage penalties. Expansion of healthcare savings accounts. Allowing insurance sales across state lines. While details are still emerging, the administration argues that these changes will increase personal choice and reduce government oversight. Trump's 2025 education policy puts a strong emphasis on school choice and vocational training. Public funding is being redirected toward charter schools and online learning platforms. Major updates: School vouchers for low-income families. Expanded funding for trade and technical schools. Removal of several federal oversight mandates on local districts. This change aims to give families more control over educational decisions and prepare youth for direct entry into the workforce. Another major component of Trump's new policies 2025 is a return to traditional energy priorities. The administration has withdrawn from several international climate commitments and instead focused on expanding fossil fuel production. Energy policy in detail: Permits fast-tracked for oil and natural gas drilling. Investment in clean coal technologies. Rollback of environmental regulations to boost industrial productivity. While this move has faced criticism from environmental groups, supporters argue it will lead to energy independence and economic growth. In terms of foreign relations, President Trump's 2025 strategy is aligned with strengthening U.S. military power and reassessing global alliances. Major defense updates include: A proposed 15% increase in the defense budget. Reduced foreign aid to countries deemed non-aligned with U.S. interests. A stronger stance on trade with China and a re-evaluation of NATO commitments. This approach continues Trump's prior strategy of 'Peace Through Strength', aiming to maintain America's position as a global leader. The administration is also moving toward tighter regulations around tech companies and internet content words craze moderation. These digital initiatives are part of a broader national security strategy. Key points: Stricter rules for foreign-owned tech platforms operating in the USA. New federal regulations to combat online misinformation. Encouraging tech companies to build data centers within U.S. borders. These actions aim to enhance data protection and reduce foreign influence in digital spaces. The reaction to Trump's new policies 2025 is divided. Supporters argue that the president is delivering on campaign promises with decisive action. They believe his policies will strengthen the country internally and externally. Critics, however, warn that rollback of regulations and foreign aid cuts may lead to long-term instability and weakened global partnerships. Surveys show that new policies in 2025 have generated strong support in rural and manufacturing-heavy regions of the USA, while facing resistance in coastal and urban centers. The 2025 political landscape under President Trump's leadership is one of change, certainty, and strong national interest. These new policies 2025 in USA reflect a consistent theme of self-reliance and reshaping international engagement on U.S. terms. Whether one supports or opposes these moves, it is clear that Trump's influence continues to redefine the course of American governance. TIME BUSINESS NEWS
Business Insider
an hour ago
- Business Insider
M&A News: Nvidia (NVDA) Acquires AI Startup CentML
Chipmaker Nvidia (NVDA) has acquired Toronto-based AI startup CentML, according to The Logic, which is a major win for the startup and its investors. Interestingly, LinkedIn profiles show that CentML CEO Gennady Pekhimenko has taken on a senior director role for AI software at Nvidia, while the startup's CTO and COO also joined in managerial positions. In total, at least 15 engineers and two interns from CentML have joined Nvidia this month, the report added. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter It is worth noting that CentML, founded in 2022, focused on helping companies run AI systems more efficiently by optimizing how models use hardware resources. The startup had raised about $30.9 million in venture capital, including a $27 million seed round that Nvidia participated in last year. CentML was also part of Nvidia's accelerator program and had already been collaborating with the tech giant before the acquisition. As a result of the move, the company will stop offering services by July 17, according to a message posted in CentML's Slack channel and on X. Unfortunately, not all CentML employees are making the move to Nvidia, as some roles were cut due to an 'organizational restructuring.' This included CentML dissolving its federal incorporation and re-registering under British Columbia law in early June. Meanwhile, Nvidia continues its upward momentum, with shares gaining nearly 17% year-to-date and rising again on Friday. With a market cap of about $3.78 trillion, analysts at Wedbush believe that Nvidia could hit $4 trillion this year and possibly reach $5 trillion within the next 18 months as the AI boom accelerates. What Is a Good Price for NVDA? Turning to Wall Street, analysts have a Strong Buy consensus rating on NVDA stock based on 35 Buys, four Holds, and one Sell assigned in the past three months, as indicated by the graphic below. Furthermore, the average NVDA price target of $175.28 per share implies 11.6% upside potential.
an hour ago
Fireworks will light up this Fourth of July. Next year could be different if tariff talks fizzle
ALBUQUERQUE, N.M. -- Like clockwork, Carla Johnson sends out letters every spring asking for donations to help pay for the annual Fourth of July fireworks show that draws tens of thousands of people to New Mexico's largest lake. And she has no reservations about doling out verbal reminders when she sees her patrons around town. There's too much at stake to be shy about fundraising when donations collected by Friends of Elephant Butte Lake State Park are what make the tradition possible. But even Johnson's ardent efforts as the group's fundraiser might not cut it next year if the U.S. and China remain locked in a trade war. With nearly all of the aerial shells, paper rockets and sparkly fountains that fuel America's Fourth of July celebrations being imported from China, volunteer groups like Johnson's and cities big and small have been closely watching the negotiations. A 90-day pause on what had been massive tariffs brought some temporary relief, but industry experts acknowledge that the tiff has lit a fuse of uncertainty as the price tag for future fireworks displays could skyrocket if an agreement isn't reached. There were similar concerns in 2019 as trade talks between the U.S. and China dragged on. Industry groups had called on officials then to exempt fireworks from escalating tariffs. The American Pyrotechnics Association and the National Fireworks Association reignited the lobbying effort this spring, noting in letters to President Donald Trump that fireworks play a crucial role in American celebrations. The groups say the industry is made up mostly of family-owned companies that are often locked into long-term contracts that leave them unable to raise prices to offset cost surges brought on by higher tariffs. And there are few options for sourcing the more than 300 million pounds (136 million kilograms) of fireworks needed to feed demands. China produces 99% of consumer fireworks and 90% of professional display fireworks used in the U.S., according to the APA. 'I think overall it's the uncertainty,' said Julie Heckman, the APA's executive director. 'Yeah, we have a 90-day pause, but are the negotiations with China going to go well? Or is it going to go sky-high again? You know, triple digits. It's very hard for a small business to plan." Fireworks have their roots in China. To ward off evil spirits, people would throw bamboo stalks into a fire, causing them to pop as the air inside the hollow pockets heated up. These early firecrackers evolved into more sophisticated fireworks after the Chinese developed gunpowder in the 9th century. By the 15th century, Europe was using fireworks for religious festivals and entertainment. In 1777, they were used in Philadelphia and Boston for what were the first organized Independence Day celebrations. Now, fireworks are synonymous with the summer holiday and with ringing in the new year. Shows have become elaborately choreographed displays that are often synced to live music. In Nashville, the Music City's award-winning symphony orchestra puts its own spin on the festivities. In New York City, organizers of the Macy's show will fire off 80,000 shells, with some reaching heights of 1,000 feet (304 meters). The National Park Service promises a spectacular show on the National Mall in Washington, D.C. At Elephant Butte in southern New Mexico, they're going old school and will light the fireworks by hand. Charlie Warren, vice president of the Friends of Elephant Butte Lake State Park, said it's like spectators are getting two shows at once as the colors reflect on the water below and the loud booms reverberate off the lake. Johnson, who also serves as the group's treasurer, gets emotional describing the experience. 'Oh man, in my heart and sometimes out loud, I'm singing the Star-Spangled Banner. I'll sing it out loud to the top of my lungs when I watch that show," she said. 'It makes you proud to be in this country, and we're celebrating our freedom, and I'm going to start crying now. Don't get me started.' Organizers in Nashville ordered fireworks for that show over a year ago so they weren't affected by the tariffs. It was the same in one of New Mexico's largest cities, where Rio Rancho officials planned to spend a little more to go bigger and higher this year. In Oklahoma, Big Blast Fireworks supplies nonprofit groups so they can fundraise by setting up fireworks stands. The company received its first container from China in January before the tariffs hit. The second container arrived in February and was subject to a 10% tariff. The third container was put on hold to avoid the highest tariffs, meaning inventory could be tight later this year if nothing changes. 'As a small business, we are passionate about watching our price points and intentional about passing along as much savings on to customers as possible," said Melissa Torkleson, a managing partner at Big Blast. With some orders on hold, industry experts say Chinese manufacturers throttled back production as warehouses filled up. The backup in the supply chain also has resulted in competition for shipping space aboard ocean vessels, and Heckman, the APA's director, said it will take much more than flipping a light switch to ease either situation. If the trade war drags on, she said, there are ways that show organizers can adjust and spectators might not notice. A minute or two could be shaved from a show or certain types of fireworks could be substituted with less expensive options. As for this year, Warren said the price tag for the Elephant Butte show was unchanged and he and Johnson can't wait to see spectators lining the shoreline, on the surrounding hillsides and on boats bobbing on the lake. The mission every year is to make sure 'that the T's are all crossed," Warren said.
