That reports the Reuters news agency. MindGeek has been sold to a Canadian private equity firm for an undisclosed sum. The buyer, Ethical Capital Partners (ECP), is targeting industries that require “principled ethical leadership,” it said.
Meanwhile, the new owner “Ethical Capital Partners” also has one corresponding press release released for adoption.
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Takeover comes as no surprise
MindGeek had survived a few difficult months recently – so the takeover didn’t come out of the blue. Last year, MindGeek’s CEO and Chief Operating Officer resigned after a media investigation revealed non-consensual underage videos had appeared on Pornhub. However, the company denied that the resignations were related to the allegations, saying the networks have “comprehensive and effective” content policies in place that would better protect against abusive postings in the future.
Other lawsuits are pending against the company, including in the United States. There, MindGeek is accused in a class action lawsuit of profiting from videos showing rape.
Now the Ethical Capital Partners are taking over: “We are working with the MindGeek team and with stakeholders including content creators, attorneys, law enforcement, civil society partners and policy makers to underpin our efforts and strengthen MindGeek’s secure platforms that go beyond legal and regulatory obligations,” said Solomon Friedman, founding partner of ECP. What that will look like in the future remains to be seen.
- MindGeek, known for its video portals, has been sold for an undisclosed amount.
- Buyer ECP wants to establish “principled, ethical leadership”.
- MindGeek has had a difficult few months recently and has come under criticism.
- ECP wants to work with stakeholders.
- ECP wants to establish a secure platform in the future.
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