May 24 2025 – Reuters has revealed that Fenix International Ltd, the parent company of OnlyFans, is currently in negotiations with an investment consortium regarding a potential sale, with the platform valued at approximately $8 billion.
According to sources familiar with the matter, the consortium is being led by Los Angeles-based investment firm Forest Road Company. Reuters noted that it was unable to disclose the identities of the other investors in the consortium. Both parties involved have declined to comment on the ongoing discussions.
OnlyFans, a London-based social media platform established in 2016, operates on a subscription-based model where content creators charge subscribers for access to their exclusive content, with the platform taking a 20% commission on all transactions.
The platform’s content is primarily generated by a diverse range of creators, including bloggers, fitness trainers, models, and public figures. Users can subscribe to these creators’ profiles to access a variety of content, including photos, videos, and live streams.
Regulatory filings in the UK indicate that Fenix International reported revenues of 6.6billionforthefiscalyearendingNovember2023,markingasignificantsurgefromthe375 million recorded in 2020.
Documents filed with the U.S. Securities and Exchange Commission, along with insights from informed sources, suggest that some executives from Forest Road Company were previously involved in discussions to take OnlyFans public via a SPAC (Special Purpose Acquisition Company) merger in 2022.
The London-based company has reportedly piqued the interest of multiple investment groups. Two additional sources have confirmed that Fenix International is also engaging with other potential buyers.
The negotiations, which have been ongoing since at least March of this year, are expected to reach a conclusion within the next one to two weeks, according to three sources. However, they also cautioned that the outcome remains uncertain. Additionally, the same sources revealed that the company is also exploring the possibility of an initial public offering (IPO).
Public records indicate that the sole shareholder of Fenix International is Ukrainian-American entrepreneur Leonid Radvinsky, whose current whereabouts are unknown. Radvinsky, who acquired OnlyFans in 2018, has reportedly received dividends totaling at least $1 billion over the past three years.
