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Playboy announces $27.4m net loss

Net loss over 20 times higher than for the same quarter last year.

Hugh Hefner's troubled Playboy empire on Tuesday announced a net loss of $27.4m for the third quarter ended September 30, 2010, compared with a net loss of $1.1m in the year-ago period.

This included impairment and restructuring charges totalling $25.8m. Revenue declined 7 per cent to $52.1m from $56m.

Playboy reported segment income of $0.7m in the quarter compared to $2.7m last year, as solid improvements in the print/digital and licensing groups were more than offset by lower entertainment group profits and increased corporate expense, a statement issued by the company said.

Speaking on Playboy's partnerships with the AMI and IMG, Chief Executive Officer Scott Flanders said, "We continue to make progress towards our goal of transitioning Playboy to a brand management company. The success of our existing partnerships with AMI and IMG demonstrate the viability and promise of outsourcing agreements."

"Working with AMI, we have reduced Playboy magazine's cost structure, contributing to the improvement in the Print/Digital Group's third quarter profitability compared to last year. In Asia, IMG helped close the single largest product licensing deal we've ever done, which was a factor in the significant top- and bottom-line growth the licensing group reported," Flanders added.

With regard to the offer by Playboy's founder and controlling shareholder Hugh Hefner to acquire the outstanding shares for $5.50 a share, valuing the company at about $185mn, Flanders said the "board continues to evaluate Mr. Hefner's proposal."

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We're hiring! Join the New Statesman as an editorial assistant

The NS is looking for a new recruit.

The New Statesman is hiring an editorial assistant, who will work across the website and magazine to help the office run smoothly. The ideal candidate will have excellent language skills, a passion for journalism, and the ability to work quickly and confidently under pressure.

The job is a broad one – you will need to understand the requirements of both halves of the magazine (politics and culture) as well as having an interest in the technical requirements of magazine and website production. Experience with podcasts and social media would be helpful.

The right person will have omnivorous reading habits and the ability to assimilate new topics at speed. You will be expected to help out with administration tasks around the office, so you must be willing to take direction and get involved with unglamorous tasks. There will be opportunities to write, but this will not form the main part of the job. (Our current editorial assistant is now moving on to a writing post.)

This is a full-time paid job, which would suit a recent graduate or someone who is looking for an entry into journalism. On the job training and help with career development will be offered.

Please apply with an email to Stephen Bush (Stephen. Bush @ with the subject line ‘Editorial Assistant application’.  

In your covering letter, please include a 300-word analysis of the strengths and weaknesses of the New Statesman. Please also include 500 words on what you consider to be the most interesting trend in British politics, and your CV as a Word document. 

The deadline for applications is noon on Monday 12th October.