BEVERLY HILLS (CBSLA) – The days of seeing Playboy magazine on newsstand racks could be ending starting in 2018.
After nearly 70 years, the iconic adult entertainment brand could end its U.S. print edition and focus exclusively on its digital presence, according to reports.
The potential move follows the death of publisher Hugh Hefner and comes as ownership is set to transfer from the Hefner family to private equity firm Rizvi Traverse, according to the Wall Street Journal.
U.S. print circulation for the Beverly Hills-based Playboy has plunged from its peak of 5.6 million in 1975 to less than half a million, a trend impacting much of the print magazine industry in general as readership continues to transition to digital.
Playboy’s print product has lost an estimated $7 million per year even after reducing publication to six issues annually, The Journal reported.