Wednesday, February 18, 2009

Playboy for Sale?

No, this isn't a Playboy-focused blog, though it may seem like it lately. Just a lot of HefCo-related news these days.
That includes this whopper. Everybody's reporting awful news in the magazine industry, so the fact that Playboy reported a very bad quarter ($156.1 million) isn't a surprise. What was surprising was the comment that the company would consider a sale and/or a big change in its flagship magazine. According to Reuters, "The company, which posted a net loss in each quarter of 2008, also said it would be open to discussions about an outright sale of the company, or changes in the strategic direction of the flagship Playboy Magazine."
Okay, Folio: says the sale option was announced in response to a question from someone on the conference call with the company's CEO, Jerome Kern. So it isn't quite like they raised the for-sale flag on their own. But it's a sign that nothing seems to be off the table.
Just when I thought they were on the right track with the mag. This recession is getting vurry, vurry ugly.
I could have much fun, being a big magazine geek, expounding on what I'd do if I could buy Playboy Enterprises, but I'll hold back. For now. Wait until a rainy day with no other magazine news to report.

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