'Penthouse' Founder Bob Guccione Dies

Bob Guccione, founder of 'Penthouse,' died in Texas Weds.

Bob Guccione, who launched an X-rated empire as the founder of Penthouse magazine, died in a Plano, Texas, hospital Wednesday, his family reported to the Associated Press. The 79-year-old publisher succumbed to a long battle with cancer.

Guccione lunched Penthouse in 1969 and it quickly became a heady competitor to Playboy.