BURBANK, CA —YNOT Network, owner of the longest continually running adult Webmaster resource site YNOT.com, announced today that former company owner Bob Rice has sold his percentage of ownership in the company to longtime business partner Gary Grigoryan. The financial terms of the deal were not disclosed, but the move leaves Grigoryan, who was an equal shareholder with Rice before the transaction, as the sole owner of YNOT Network, while the direction and operation of the company will remain under the control of company president Connor Young. The move officially frees up Rice, who has not been active with YNOT for some time, to focus more directly on other tasks, including the growth of popular adult affiliate program LightspeedCash.

“It’s been a great ride, and I’m proud of the accomplishments YNOT has made during my ownership,” Rice said in a statement. “I have been away for a bit, and left the helm of YNOT in Connor’s more-than-capable hands. Since leaving, I have launched a new affiliate program (the hugely successful IncredibleDollars), and then teamed up with Lightspeedcash. It was simply time for me to release my shares and responsibilities in YNOT and move on to focus more on my current business at hand. I continue to wish YNOT the best and will always be around if they need any help.”

Company president Connor Young says Bob’s presence will be missed.

“Bob will definitely be missed here at YNOT,” Young states. “He was a part of the company for a long time, not just as an owner, but also as the face of the company. I wish both him and LightspeedCash the best. I know Bob is fiercely proud of this company and the role it has played in shaping the adult internet business, and that’s a tradition we plan to continue to carry out here at YNOT for a long time.”

As for the direction of the company, Young says he expects YNOT to be in the news often in the next six months as it releases projects that have been in development for some time.

“There are so many things that we have been quietly working on for many months now, both in regard to YNOT.com and our other company assets,” says Young. “I have the pleasure of working with extremely talented people here at YNOT, so I’m eager to share their work with the rest of the industry. Our reputation is rock solid here because we innovate rather than copy or imitate. What we have in store will definitely keep that YNOT tradition of innovation alive.”