Larry Flynt is making noises about taking his Hustler porn empire public.
The 71-year-old porn king, who has expanded well beyond his monthly magazine into Web sites, casinos, a TV network and a licensing division, thinks the business could be worth as much as $500 million.
The Los Angeles-based company is already working with "high-powered" firms to consider an initial public offering, Flynt told the Cincinnati Enquirer in a recent interview.
The IPO could come to Wall Street within 12 to 18 months, the founder and chairman of the 40-year-old publication said.
Back in 1974, Hustler magazine joined Playboy and Penthouse in a newsstand competition for male adolescent eyeballs across the nation.
The competition served all three publications well for years, but when the market turned south in the late 1990s, Flynt had the foresight to diversify.
There are now more than 60 adult Web sites under the Hustler corporate umbrella, Flynt said in the interview.
His LFP also includes such legacy assets as Hustler magazine, a strip club and adult-film production companies.
While never straying far from porn, Flynt's immersion in different media and other outlets has spared the company from the bankruptcies that have hit rivals.
Today, just 5 percent of Flynt's profits come from print — while 25 years ago that total was closer to 85 percent, he said in the interview.
"We've changed the whole economics of our company, [but] we're more sound than we were before," Flynt said.
Flynt's leading role in pornography may have set up an equally enduring legacy as a proponent of free speech.
His many battles to protect the First Amendment in the 1970s are depicted in the 1996 biopic "The People vs. Larry Flynt."
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