Page last updated at 22:01 GMT, Wednesday, 18 February 2009

Playboy 'would consider' selling

Playboy magazine cover
Playboy has been hit by falling sales and restructuring costs

Playboy has said it would be open to discussions about an outright sale of the company, after reporting a steep quarterly loss.

Playboy Enterprises, best-known for its adult magazine, posted a net loss of $145.7m (102.6m) for the three months to the end of December 2008.

This compared with a loss of $1.1m for the same period a year earlier.

The company said it was hit by $157m in restructuring and other one-off costs. It cut 14% of its workforce in 2008.

Playboy has struggled with a shrinking audience in a poor economy.

Revenue for the period was $69.8m, down 19% on the fourth quarter in 2007.

In recent months the company has seen a shake-up in the boardroom, with chief executive Christie Hefner, daughter of Playboy founder Hugh Hefner, resigning in December.

Interim chairman and chief executive Jerome Kern admitted: "In the face of current economic conditions, it is clear that our streamlining initiatives need to continue."

In a conference call with analysts, he revealed the company would consider a sale or changes in the strategic direction of its flagship magazine.

Print Sponsor


SEE ALSO
Playboy reviews UK sales displays
22 May 08 |  Business
Playboy stretches the Bunny brand
13 Aug 07 |  Business
Hefner biopic 'gets the go-ahead'
25 Jun 07 |  Entertainment
Indonesia Playboy editor cleared
05 Apr 07 |  Asia-Pacific
Air force demotes Playboy poser
15 Feb 07 |  Americas

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites


FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

BBC iD

Sign in

BBC navigation

Copyright © 2017 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific