Bob Guccione is folding up Penthouse, because he can't take the competition from free Internet porn.
Mr. Guccione's publishing practice of objectifying every body part of a woman save her tonsils, along with his penchant for massive gold jewelry, positioned him as the more transgressive half of the duo of Hefner/Guccione. But he was conservative in his personal habits, choosing not to drink, smoke or use drugs, and he was a devoted husband, according to friends and associates..
In the mid-90's, Mr. Guccione responded to the growing threat from digital pornography by making his magazine even more explicit, depicting various sexual acts. The change did not please newsstand vendors, and what had been a mainstream publication became a magazine whose distribution was often restricted to pornographic bookstores.
(via New World Disorder)
