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Adult title’s move to go online-only follows rival Playboy’s announcement that it will no longer feature naked women

Adult magazine Penthouse is to end its print edition after 50 years and go online-only.

The closure of the print edition of the magazine, which was founded in 1965 by Bob Guccione, follows the announcement last year by Hugh Hefner’s rival Playboy that it will no longer feature naked women.

FriendFinder Networks, the magazine’s parent company, said that subscribers to the print edition will be converted to digital.

“This will be a new way for its readers to experience the world’s best adult magazine,” said FriendFinder chief executive Jonathan Buckheit in a statement. “Reimagined for the preferred consumption of content today by consumers, the digital version of Penthouse magazine will combine and convert everything readers know and love about the print magazine experience to the power of a digital experience – giving people an open-ended reading experience, available anytime, anywhere.”

The magazine will also relocate its New York operations to the Los Angeles offices of FriendFinder Networks.

The rise of freely available content on the internet forced a string of magazines to close.

In November, FHM and Zoo followed Loaded and Nuts in folding marking the end of the lads’ magazine era as men turn to mobile phones and social media.

Besides publishing Penthouse, FriendFinder Networks operates a number of adult-oriented social networking sites including AdultFriendFinder.com, Amigos.com, AsiaFriendFinder.com and SeniorFriendFinder.com.

The company has faced financial difficulties in recent years. FriendFinder Networks filed for bankruptcy protection in 2013. The company was cleared to exit bankruptcy later that year.