Playboy CEO: 'Bold Steps' Needed to Stem Losses
Playboy Enterprises will continue to publish its iconic print magazine, but it needs to take “bold steps” to stem its profit losses, the company’s CEO said.
“We will remain a magazine publisher,” Scott Flanders said during a conference call Nov. 5 to discuss the company’s third-quarter results. “But we cannot continue to lose significant sums of money in this business.”
The company already announced that it would cut the magazine’s guaranteed circulation by 38 percent to 1.5
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