Monday, May 12, 2008

Playboy Posts Quarterly Loss

The struggling economy has not hit me - I'm a big city police detective - but this news item really hits me hard. Heh, Heh.

NEW YORK (Reuters) - Adult entertainment publisher Playboy Enterprises Inc posted a quarterly loss on Tuesday because of weaker publishing and domestic television revenue and forecast more trouble during the year, pushing its shares down 8 percent.

The worse-than-expected results illustrate the trouble that Playboy and other publishers and television companies face as more people get their entertainment online, and often for free.

Its results also show that, at least for Playboy, licensing its bunny ears brand and bachelor lifestyle cachet is proving a more resilient business than the magazine that created them.

"Our publishing and domestic entertainment businesses continue to face unprecedented change in the way consumers access and use media content," Chief Executive Christie Hefner said in a statement accompanying the quarterly results.

Hefner forecast the licensing business would grow throughout the year but said Playboy did not expect it to offset the weaker results it anticipates in its media business. (H/T - Drudge)

Now, I'm no businessman, but I would like to offer Hef some advice. If you want more readers, I would suggest getting Jessica Simpson to agree to a layout. She's like Colt .45: Works every time.

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