Playboy Enterprises Inc stock certificate specimen - OLIVE
Vignette of nude Willy Rey, Miss February 1971, and the Playboy bunny logo at the bottom. Printed signature of Hugh Hefner as president. Circa 1971 from company IPO. Classic must-have collector's piece. Great price
Playboy is an American men's lifestyle and entertainment magazine. It was founded in Chicago in 1953 by Hugh Hefner and his associates, and funded in part by a $1,000 loan from Hefner's mother. The magazine has grown into Playboy Enterprises, Inc., with a presence in nearly every medium. Playboy is one of the world's best known brands. In addition to the flagship magazine in the United States, special nation-specific versions of Playboy are published worldwide.
The magazine has a long history of publishing short stories by notable novelists (read the articles!) With a regular display of full-page color cartoons, it became a showcase for notable cartoonists. Playboy features monthly interviews of notable public figures, such as artists, architects, economists, composers, conductors, film directors, journalists, novelists, playwrights, religious figures, politicians, athletes and race car drivers. The magazine generally reflects a liberal editorial stance, although it often interviews conservative celebrities.
By spring 1953, Hugh Hefner - a 1949 University of Illinois psychology graduate who had worked in Chicago for Esquire magazine writing promotional copy; Publisher's Development Corporation in sales and marketing; and Children's Activities magazine as circulation promotions manager, had planned out the elements of his own magazine, that he would call Stag Party. He formed HMH Publishing Corporation, and recruited his friend Eldon Sellers to find investors. Hefner eventually raised just over $8,000, including from his brother and mother. However, the publisher of an unrelated men's adventure magazine, Stag, contacted Hefner and informed him it would file suit to protect their trademark if he were to launch his magazine with that name. Hefner, his wife Millie, and Sellers met to seek a new name, considering "Top Hat", "Gentleman", "Sir'", "Satyr", "Pan" and "Bachelor" before Sellers suggested "Playboy".
The first issue, in December 1953, was undated, as Hefner was unsure there would be a second. He produced it in his Hyde Park kitchen. The first centerfold was Marilyn Monroe, although the picture used originally was taken for a calendar rather than for Playboy. Hefner chose what he deemed the "sexiest" image, a previously unused nude study of Marilyn stretched with an upraised arm on a red velvet background with closed eyes and mouth open. The heavy promotion centered around Marilyn's nudity on the already famous calendar, together with the teasers in marketing, made the new Playboy magazine a success. The first issue sold out in weeks. Known circulation was 53,991. The cover price was 50¢. The novel Fahrenheit 451, by Ray Bradbury, was serialized in the March, April and May 1954 issues of Playboy.
An urban legend started about Hefner and the Playmate of the Month because of markings on the front covers of the magazine. From 1955 to 1979 (except for a six-month gap in 1976), the "P" in Playboy had stars printed in or around the letter. The legend stated that this was either a rating that Hefner gave to the Playmate according to how attractive she was, the number of times that Hefner had slept with her, or how good she was in bed. The stars, between zero and 12, actually indicated the domestic or international advertising region for that printing.
Since reaching its peak in the 1970s, Playboy saw a decline in circulation and cultural relevance due to competition in the field it founded—first from Penthouse, then Oui (which was published as a spin-off of Playboy) and Gallery in the 1970s; later from pornographic videos; and more recently from lad mags such as Maxim, FHM, and Stuff. In response, Playboy has attempted to re-assert its hold on the 18–35 male demographic through slight changes to content and focusing on issues and personalities more appropriate to its audience—such as hip-hop artists being featured in the "Playboy Interview".
Christie Hefner, daughter of the founder Hugh Hefner, joined Playboy in 1975 and became head of the company in 1988. She announced in December 2008 that she would be stepping down from leading the company, effective in January 2009, and said that the election of Barack Obama as the next President had inspired her to give more time to charitable work, and that the decision to step down was her own. “Just as this country is embracing change in the form of new leadership, I have decided that now is the time to make changes in my own life as well,” she said.
The magazine runs several annual features and ratings. One of the most popular is its annual ranking of the top "party schools" among all U.S. universities and colleges. For 2009, the magazine used five considerations: bikini, brains, campus, sex and sports in the development of its list. The top ranked party school by Playboy for 2009 was the University of Miami.
In June 2009, the magazine reduced its publication schedule to 11 issues per year, with a combined July/August issue and on August 11, 2009. London's Daily Telegraph newspaper reported that Hugh Hefner had sold his English Manor house (next door to the famous Playboy Mansion) for $18 m to another American Daren Metropoulos the President and co owner of Pabst Blue Ribbon. Also that due to significant losses in the company's value (down from $1 billion in 2000 to $84 million in 2009) the Playboy publishing empire is up for sale for $300 m. In December 2009, they further reduced the publication schedule to 10 issues per year, with a combined January/February issue.
On July 12, 2010, Playboy Enterprises Inc. announced Hefner's $5.50 per share offer ($122.5 million based on shares outstanding on April 30 and the closing price on July 9) to buy the portion of the company he did not already own and take the company private with the help of Rizvi Traverse Management LLC. The company derives much of its income from licensing rather than the magazine. On July 15, Penthouse owner FriendFinder Networks Inc. offered $210 million (the company is valued at $185 million), though Hefner, who already owned 70 percent of voting stock, did not want to sell. In January 2011, the publisher of Playboy magazine agreed to an offer by Hefner to take the company private for $6.15 per share, an 18 percent premium over the price of the last previous day of trading. The buyout was completed in March 2011.