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My Way News: "After 35 years in the business of titillating and offending, pornographer Al Goldstein says his magazine can't compete anymore. The audience is just as large, he says, but the Internet has transformed the product and its delivery.

Just over a month ago, Goldstein stopped publishing Screw magazine and filed for Chapter 11 bankruptcy, giving him a chance to cut costs, relaunch the magazine and refocus attention on his Web site.

Similar pressures are seen throughout the adult publishing field. Bob Guccione's General Media Inc., for instance, has also filed for Chapter 11 protection, although the company's trademark Penthouse magazine continues publishing while the company restructures.

On Friday, Guccione resigned as CEO of General Media's parent company, Penthouse International. He remained at the helm of the magazine, which has seen circulation decline from nearly 1 million to 565,700 over the past five years.

Goldstein said circulation woes throughout the field show 'we are an anachronism; we are dinosaurs; we are elephants going to the bone cemetery to die. ... The delivery system has changed, and we have to change with it if we want to survive."

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