This one slightly more umm, exciting than the Tribune’s demise.
Dec. 8 (Bloomberg) — Playboy Enterprises Inc. Chief Executive Officer Christie Hefner will resign next month after two decades running the magazine company her father founded.
Here’s the interesting thing though, shares jumped on the news, suggesting Hefner — despite her pedigree — may have been somewhat unfavourably viewed by the markets. The Playboy progeny has been at the helm of some controversial moves — notably Playboy’s exit from the DVD market in favour of online distribution earlier this year (Christie Hefner’s full memo on the development is here). Cue much hilarity as strait-laced newswires attempt to encapsulate the latest changes of the porn industry in relation to Playboy’s empire. Our favourite is this from MarketWatch:
Playboy has had problems dealing with the Web. The company made its reputation by showing naked women in the pages of its flagship property, but as more and more racy content appears on the Internet, Playboy has lost both its shock value and its monopoly.
Maybe the bunnies can help choose some more stocks?
Related links:
Playboy shares soar as Christie Hefner resigns – MarketWatch
Playboy Enterprises does restructuring – Paidcontent.org
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