The troubled online gay and lesbian portal PlanetOut (NSDQ: LGBT) has signed a binding Letter of Intent (LOI) with an affiliate of here! Networks to sell its magazine and book publishing businesses, for a total of $6 million in cash. The deal is with Regent Releasing, an affiliate of NYC-based Here, which is a gay and lesbian TV network. This means it has disposed off well-known magazines The Advocate and Out, their associated websites and Alyson books. It will now focus on its core online businesses, Gay.com and PlanetOut.com.

Also, PlanetOut is not done with the disposition: it is continuing to work with Allen & Co. to explore other sale options for the company. More here in release.