Playboy Expects 30 Percent Ad Revenue Decline

first_imgPlayboy magazine expects a 30 percent decline in advertising revenues in the first quarter of 2008, the company told investors today during its fourth quarter earnings call. The company reported $85.9 million total net revenue, down $1.1 million compared to the same period in 2006.Playboy’s publishing group reported $24.7 million in revenue, a $1.5 million segment loss for the quarter. Flat newsstand revenues and lower subscription revenues led to a five percent decline in total circulation revenues to $12.6 million. Advertising revenues declined three percent in the quarter to $8 million.The publishing group’s net revenue in 2007 was $93.8 million, down from $97.1 million in 2006. The grim advertising projection comes on the heels of its Fas-Fax audit statement, released Monday, which shows single copy sales of the magazine fell 35.8 percent during the second half of 2007. Overall, total circulation fell from 3,001,723 to 2,700,262—a 10 percent drop.The overall earnings report included a $1.9 million charge due to the sale of the Andrita television studio, a deal the company expects to be completed in March 2008.Net income for Playboy Enterprises totaled $4.9 million in 2007, more than double the $2.3 million reported in 2006. The company attributed the growth, in part, to its licensing group, which was up 18 percent (to $10.5 million) from $8.9 million the year before.last_img read more

SC to hear Khaledas review petition 9 July

first_imgKhaleda Zia. File PhotoThe Supreme Court will hear on 9 July a review petition filed by BNP chairperson Khaleda Zia against its order that asked the High Court to dispose of her appeal by 31 July challenging the lower court verdict sentencing her to five years’ imprisonment in the Zia Orphanage Trust graft case.Chamber Judge of the Appellate Division justice Hasan Foez Siddique fixed the date on Thursday and sent the petition to the full bench to hearing, reports UNB.AJ Mohammad Ali, Zainul Abedin and Kaiser Kamal stood for Khaleda while attorney general Mahbubey Alam represented the state and Khurshid Alam Khan argued for the Anti-Corruption Commission.Earlier on 16 May, a four-member bench of the Appellate Division, led by chief justice Syed Mahmud Hossain, upheld the High Court order that had granted bail to convicted BNP chairperson Khaleda Zia in Zia Orphanage Trust graft case.The SC also issued an order to dispose of Khaleda’s appeal petition challenging the lower court’s verdict in the case by 31 July.Later, Khaleda’s lawyer filed a petition on 25 June seeking review of the order.On 8 February, the Dhaka Special Court-5 convicted the former prime minister and BNP chairperson and sentenced her to five years’ imprisonment in the Zia Orphanage Trust graft case.She was then sent to old central jail at Nazimuddin Road in the city.The BNP chief secured four months’ bail from the High Court in the case on 12 March.last_img read more