The magazine Hugh Hefner started, “Playboy” is in big trouble. In 2007, Playboy posted a profit of $4.9 million dollars, in 2008 the company lost $156.1 million. Yikes!
Even before yesterday’s announcement, the media world knew Playboy was having a tough year. First, it eliminated 80 jobs. Then, CEO Christie Hefner left. Just last month, it moved to Chicago, bumping digital head Jimmy Jellinek up to editorial director and kicking former ed Christopher Napolitano, who refused to relocate his family to the Windy City, to editor-at-large.
Playboy is preparing to put themselves on the market for any publisher that would like to relieve Hugh Hefner of his duties.