$100 Million Writedown for Playboy

CHICAGO: Playboy Enterprises, Inc. (PEI) is expecting to report write-downs of more than $100 million in its next set of financials, with a projected operating loss for the fourth quarter.

The company said it was expecting non-cash impairment charges related to goodwill and other intangible assets in its Q4 results. While the review and audit of these charges is not complete, PEI said the write-down is expected to be in excess of $100 million. 

PEI also revealed plans to merge its publishing and online entities, which will be based in the Chicago office, and is looking at further ways to cut costs.