MEDIA
03/22/2009 05:12 am ET Updated May 25, 2011

Playboy Open To Sale Of Company Following Steep Loss

NEW YORK (Reuters) - Playboy Enterprises Inc, publisher of one of the world's best known adult magazines, posted a wider fourth-quarter loss, hurt by $157.2 million in restructuring and other one-time costs, as well as weaker-than-expected revenue.

The company, which posted a net loss in each quarter of 2008, also said it would be open to discussions about an outright sale of the company, or changes in the strategic direction of the flagship Playboy Magazine.

Net loss for Playboy, which in recent months has seen a management shake-up including the resignation in December of longtime Chief Executive Christie Hefner, was $145.7 million, or $4.37 per share. This compares with a loss of $1.1 million, or 3 cents a share, in the year-ago period.

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