Playboy Enterprises signs outsourcing agreement with AMI
The agreement is expected to help Playboy in cutting costs. Financial terms were not disclosed. Playboy Enterprises publishes Playboy magazine in the US and abroad and creates content for distribution via television networks, websites, mobile platforms and radio.
Under the terms of the agreement, Playboy will retain charge of editorial content but will turn over other responsibilities to AMI, which publishes Star and Men's Fitness, reported MarketWatch citing a report.
Due to slump in advertising industry, Playboy Enterprises was struggling to make profits in the recent times. The Playboy magazine, which is expected to report loss in 2009, has reported a loss of about $13m in 2008.
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