Playboy Takes $100M Charge, Closes N.Y. Editorial Offices

LOS ANGELES — Playboy Enterprises plans to write down more than $100 million and consolidate its online and print operations as it tries to shore up its business.

The company also will move nearly all of its New York editorial operations to Chicago and make cuts to an unspecified number of jobs.

The move is considered a bold but necessary one because the company is in the midst of reinventing itself.

Playboy, which is in the midst of a search to replace CEO Christie Hefner, just completed the long-awaited relaunch of its flagship site, Playboy.com, which will include more social-networking features. Aiming for local ad dollars, it will also have a city guide.

With anticipation for change, Playboy reported Thursday it would take a $100 million charge related to goodwill and other intangible assets in its fourth quarter 2008 results, which it says will result in a loss. It also expects to report a restructuring charge of $4 million.

Playboy said that it is close to integrating its publishing and online units that will be based in the company’s Chicago office. Playboy’s offices on Fifth Avenue in New York will be sublet.

In a statement, Playboy said “the two operations have worked cooperatively and shared an advertising sales team, but going forward the company will focus on creating brand-consistent content that extends across print and digital platforms.”

Playboy spokeswoman Martha Lindeman did not return calls to XBIZ by post time.

Related:  

Copyright © 2025 Adnet Media. All Rights Reserved. XBIZ is a trademark of Adnet Media.
Reproduction in whole or in part in any form or medium without express written permission is prohibited.

More News

Florida Attorney General Dismisses AV Suit Against Segpay

The Florida attorney general’s office on Monday agreed to dismiss claims against payment processor Segpay in a lawsuit over alleged noncompliance with the state’s age verification law.

Charlotte Sins Fronts Latest From Pure Taboo

Charlotte Sins stars with Tyler Cruise in the latest release from Pure Taboo, titled "Camgirl’s Dilemma."

Taylor Vixxen Stars in Latest From MYLF

Taylor Vixxen stars with Dorian Del Isla in the latest release from MYLF, titled "Lifeguard on Booty."

Sid Knox Reflects on 3 Decades of Craft and Keeping It Fun

Sid Knox is marking his 30th year in the industry. Asked what he enjoys most about his work, the prolific producer/director says it’s the process of creating something with like-minded people.

Fleshlight, Ricky's Room Team Up to Launch New Product Line

Fleshlight and Ricky's Room have partnered to launch the new Fleshlight x Ricky's Room collection.

Hazel Grace, Amari Anne Lead Christmas-Themed Release From West Coast Productions

Hazel Grace and Amari Anne, and Dick Dealer Don star in a Christmas-themed release from West Coast Productions, titled “Big Dick For Christmas.”

Jonni Darkko Drops New Evil Angel Release With Alexis James

Alexis James stars with Rob Piper in a new Jonni Darkko-helmed Evil Angel scene.

FTC Weighs Reboot of 'Click to Cancel' Rulemaking Process

The Federal Trade Commission has invited public comments on a petition to renew trade regulation rulemaking concerning negative option plans, after a federal court previously vacated a “click-to-cancel” rule aimed at making it easier for consumers to cancel online subscriptions.

Adult Time Drops Latest Installment of Jim Powers' 'MILF Overload'

Adult Time has released the latest installment of director Jim Powers' series "MILF Overload."

Show More