Playboy magazine has long been a controversial publication, with critics claiming that the print product exploits women and glorifies smut, but despite its monumentally famous presence, it appears the magazine could be headed for closure.
Ben Kohn, a managing partner at Rizvi Traverse, the private-equity firm that is a controlling shareholder for Playboy, told The Wall Street Journal that the company might can the magazine and refocus its efforts on casinos, nightclubs and licensing.
“We want to focus on what we call the ‘World of Playboy,'” Kohn said. “We plan to spend 2018 transitioning it from a media business to a brand-management company.”
He continued, “I’m not sure that print is necessarily the best way to communicate to our consumer going forward.”
It appears the magazine could be pushed to the side to focus more on licensing lounges, events, fragrance lines and other such endeavors — a move away from the magazine business.
Depending on what happens, Rizvi Traverse could end up totally taking over the Playboy brand, which would remove it from control by founder Hugh Hefner’s family. The Journal reported that at least one source said that Rizvi Traverse is trying to secure the 35 percent of the company that Hefner left to his heirs.
The potential that Playboy magazine could be shut down is of course noteworthy, especially considering that Hefner recently died in September at the age of 91. His passing is potentially ushering in a totally new era for the adult-themed company.
As Faithwire previously reported, Hefner’s death sparked both praise and critique, as people debated the legacy left by the media mogul, specifically when it comes to adult entertainment.
Among the other details to emerge after Hefner’s death was famed author Lee Strobel revelation surrounding how Hefner reacted when Strobel — a well-known atheist-turned-Christian speaker and apologist — went to the famous Playboy mansion just over a decade ago and shared the gospel with the magazine publisher.
“He was quite engaging in terms of the conversation. We talked about what he believed and he had a very minimalistic, deistic view of God,” Strobel said. “He said he has a minimal belief in God.”
Listen to Strobel discuss all that below: