[Updated]Penthouse [NOT] discontinuing print edition

[This post has been updated] Penthouse magazine, the raunchier cousin of Playboy, has decided to stop print publishing and provide its content only in digital format.

"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," said FriendFinder Networks in a statement reported by The Wall Street Journal.

Men's or "lad mags" have found it almost impossible to compete with the adult content that can be found free online. Playboy, for instance, recently said it was discontinuing full nudity since anyone with a laptop could find more on the internet.  

The move to digital means the closing of Penthouse's New York offices (moving to Los Angeles, hq of the FriendFinder Networks). 

[Update: Penthouse says now that it is NOT discontinuing its print edition and that its announcement about the digital edition was misunderstood. 

"To answer what was picked up in the press, obviously the mainstream press doesn't read down to the bottom of press releases," said managing director Kelly Holland. "We never suggested that we were stopping Penthouse's print publication."]