More bad news for the Playboy franchise: Playboy reported a loss in excess of 145 million in the fourth quarter of 2008, and says it expects a 27 percent decline in ad revenue in the first quarter of 2009.
When asked if Playboy would be open to selling the company or taking a new direction, interim CEO Jerome Kern, who took over for Christy Hefner late last month, replied, "Yes, we're open to discussions."
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Playboy magazine is doing what it's looking like all old-fashioned dead-tree magazines need to do: adapt and embrace the Internets. But is Playboy adapting fast enough?
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