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article imageHugh Hefner's Playboy Magazine Pulling out of New York Offices

By Leo Reyes     Mar 24, 2009 in Business
Playboy magazine is pulling out of its New York offices as the world economic downturn continue to take its toll on the US publishing business
The New York offices of Playboy magazine will be closed effective May 1, 2009 as the economic downturn continue to take its toll on the print publishing business.
Inquirer.net reports:
Focusing on boardroom, not bedroom needs, famed men's magazine Playboy is pulling out of its New York offices, a spokeswoman said Monday.
"We are closing our New York offices to integrate our online and printed publishing," Martha Lindeman told AFP.
About 100 jobs will be affected with the planned closure. Some employees will be relocated while others will either be given some options. Only a small number will remain in New York where Playboy maintained its presence since the early 1990s.
Obviously the management decision to close shop is part of its cost-cutting measures to keep the business going under an uncertain economic situation.
It was earlier reported that Hugh Hefner, the Playboy founder is selling his family home in California for $28 million. The 83-year old Hefner lives in his California mansion with three of his models.
As part of the Hefner’s efforts to promote the magazine, he made available to the public via the Internet, 53 issues of Playboy magazine for free.
In a related development, Hefner announced that one of his ex-girls, 23-year old reality TV model Kendra Wilkinson is getting married to Hank Baskett of the Philadelphia Eagles Hefner said he will walk her down the aisle at the Playboy Mansion.
Hefner and Wilkinson had a relationship for four years.
More about Publishing, Press, Playboy magazine, Hugh hefner, USA
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