OnlyFans owner exploring $8 billion sale
By Jessica Sanders · Published June 5, 2025 · Updated September 10, 2026
Update (September 10, 2026): No public majority sale at the ~$8 billion valuation closed. After Leonid Radvinsky’s death in March 2026, Fenix International announced that it had sold a 16% stake to Architect Capital for $535 million, a deal that values the company at about $3.15 billion (Variety, May 8, 2026). Fiscal 2024 results (year ended November 30, 2024) showed about $7.22 billion in gross fan payments and $1.41 billion net revenue (Variety). Creator-risk framing: Why an OnlyFans sale could spell trouble for creators.
The talks
OnlyFans, the UK-based subscription platform, is at the center of acquisition talks that could value the company at about $8 billion (£5.9 billion).
Parent company Fenix International is reportedly in discussions with a consortium led by U.S. investment firm Forest Road Company. Variety confirmed the ~$8 billion valuation talks and said a Forest Road–led group was among the parties, that talks were not exclusive, and that there was no set close date (May 23, 2025). Fenix and Forest Road have declined to comment.
Forest Road has media and entertainment interests. Its executives were previously linked to a 2022 SPAC effort around a possible OnlyFans IPO that did not produce a public listing; Variety’s source said an IPO was not the active plan during these talks.
Financial position
According to U.K. filings covered by Variety for the year ended November 30, 2023:
- Gross fan payments about $6.63 billion
- Creator payouts about $5.32 billion
- Net revenue about $1.31 billion (up about 20% year over year)
- Pre-tax profit about $658 million
- About 4.12 million creator accounts and more than 300 million registered fan accounts at year-end
(An earlier draft of this report wrongly treated ~$6.6 billion as creator payouts; that figure matches gross fan payments in the same filing coverage. Creator payouts were about $5.32 billion.)
OnlyFans remains best known for sexually explicit material for adults 18+, while also hosting non-adult creators. Creators keep 80% of fan payments under the usual split.
Ownership and controversy
Leonid Radvinsky, a low-profile Ukrainian-American entrepreneur, purchased OnlyFans in 2018 from British founder Tim Stokely. Radvinsky had built wealth in adult webcam businesses; filings covered in the same press cycle put his OnlyFans-related dividends since ownership in the billion-dollar range.
In 2021, OnlyFans announced a ban on sexually explicit content under banking pressure, then reversed within days after saying it had secured partner assurances. That episode left open how a sale might affect adult creators. Timeline: OnlyFans adult-content ban scare.
In March 2025, UK regulator Ofcom fined Fenix £1 million for failing to respond adequately to questions about age-verification practices, including facial estimation technology.
What it means for creators
A reported sale process is not a Terms change by itself. Until ownership and policy actually shift, keep media you can move and set up on another platform you can actually run—see OnlyFans alternatives. Deeper scenario thinking: Why an OnlyFans sale could spell trouble for creators.
Whatever the outcome, a change of control would be a defining moment for a platform built on creator payouts—and for whether adult content stays central.