Wall Street Journal: Playboy may shut down its print magazine
(FOX 11) - Another iconic magazine may be disappearing from newsstands.
Playboy may close down its print magazine.
The Wall Street Journal reports a private-equity firm is in talks to buy the 35 percent stake Hugh Hefner left to his heirs.
The company tells the paper it is doubling down on efforts to make money from brand partnerships and licensing deals built around the Playboy name.
Since hitting peak subscription numbers near $6 million in the mid-70's, playboy magazine has suffered due to the advent of home video and the internet.
According to the report, Playboy's current circulation has dropped below 500,000.
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