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Monday, November 23, 2009
Playboy, American Media Enter Outsourcing Pact
By V. Phani Kumar
MarketWatch Pulse
HONG KONG -- Playboy Enterprises Inc. has signed an agreement to outsource most of the business operations of the Playboy magazine to American Media Inc. as it attempts to return to profits, The Wall Street Journal reported Tuesday. Under the terms, Playboy will retain charge of editorial content but will turn over other responsibilities to AMI, which publishes more than a dozen titles, including Star and Men's Fitness, the report said. The two companies didn't disclose financial details, but Playboy Chief Executive Officer Scott Flanders reportedly said the arrangement will significantly reduce costs and help the magazine return to profitability by the end of 2011.
Copyright © 2009 MarketWatch, Inc.
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