February 20, 2009 | The Biz

Playboy up for sale?

You know times are tough when adult stalwart Playboy goes up for sale. Sure it's full of boobies, but it has always been a big player in the sex industry.

Restructuring costs of $157.2 million didn't help. And revenues were down to $69.8 million from $85.9 million (falling short of the expected 2008 revenue of $73.7 million).

"The results of our (cost-cutting) efforts to date should be meaningful, but in the face of current economic conditions, it is clear that our streamlining initiatives need to continue," said Chief Executive Officer Jerome Kern in a statement.

This wascally wabbit will live to see another day in one form or another ...

Playboy posts steep loss, will consider company sale [comcast]