Exclusive: OnlyFans Owner in Advanced Talks to Sell Company for Approximately $8 Billion, Sources Reveal
By Echo Wang, Linda So, and Milana Vinnodka
()- The parent company of OnlyFans, Fenix International Ltd., is reportedly engaged in discussions regarding the potential sale of the adult-content-focused business for approximately $8 billion. This information comes from three insiders who have knowledge about the situation. According to these sources, the leading entity in this prospective buyer consortium is Forest Road Company, an investment firm based in Los Angeles. has been unable to determine the identities of the other members involved in this purchasing collective.
The details of the investment group and the present valuation of the deal have not been disclosed before.
During the surge in popularity due to the COVID-19 pandemic, OnlyFans has become widely recognized as an online platform where adult content producers can charge subscribers for their material. The company retains 20% from the revenue generated by these creators.
For the period ending November 2023, the firm reported revenues of $6.6 billion as stated in documents submitted to UK authorities. This represents an increase from $375 million in 2020, and such swift expansion has piqued investors’ curiosity.
Certain executives from Forest Road were involved in a special purpose acquisition company that had discussions about taking OnlyFans public in 2022, as reported by sources and documented in U.S. Securities and Exchange Commission filings.
OnlyFans and Forest Road chose not tocomment.
Two sources close to the negotiations and an additional source who has insight into the sale conversations indicated that Fenix International Ltd is engaged in discussions with several possible bidders besides one another source.
The firm based in London has attracted attention from multiple potential buyers in recent months.
Discussions have been taking place since at least March, according to those individuals. Three sources stated that an agreement might be achieved within the coming one or two weeks. However, these sources also warned that there’s no guarantee a deal will materialize and asked for confidentiality before any formal statement is made.
An IPO is also under consideration, according to three of the sources.
The only shareholder of the firm is Leonid Radvinsky, a Ukrainian-American individual whose current whereabouts were untraceable. In 2018, he acquired OnlyFans, and according to UK records, he has awarded himself at least $1 billion in dividend payments within the last three years.
In last year’s investigation into OnlyFans, journalists uncovered numerous reports within U.S. law enforcement and judicial documents indicating that content involving child sexual exploitation and unauthorized sharing of intimate images have been present on the platform since 2019. Additionally, the report highlighted instances where criminals utilized the service for trafficking purposes, victimizing multiple women.
OnlyFans becomes off-limits for numerous major banks and investors due to pornography, insiders reveal. This occurs because rigorous checks could potentially uncover illicit content including child sexual exploitation materials, human trafficking victims, and non-consensual explicit images.
On Wednesday, The New York Post reported that the firm was considering a possible sale.
Established in 2017, Forest Road is an investment company with interests spanning across media, renewable energy, and digital assets as stated on their official site. The company has previously invested in entities such as a Formula E race team and further broadened its advisory services in 2024 through the acquisition of a controlling interest in ACF Investment Bank.
(Linda So reported from Washington D.C., Echo Wang and Milana Vinn contributed from New York, and Andrew Marshall provided input from London; edited by Kenneth Li and Cynthia Osterman)