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Cahners quells sale rumors

Published on .

Robert Krakoff, president-CEO of Cahners Publishing and Reed Publishing USA, dismissed rumors that had swept through the American Business Press convention earlier this week about a possible sale of all or part of Cahners. "It is not a topic under consideration," said Mr. Krakoff. He also said a business meeting in Boston--not a board meeting of the parent company in Europe--prevented him from attending the ABP gathering.

Playboy Enterprises, Chicago, reported operating income of $0.2 million for the third quarter of fiscal 1995, ended March 31, compared to an operating loss of $7.1 million for the same period last year. The company also closed its fiscal 1995 third quarter with a net loss of $0.3 million compared to a net loss of $8.4 million for the prior year period. Operating income for Playboy publishing businesses increased to $3.3 million for the quarter from $500,000 last year on a 2% increase in revenues to $29.4 million. Playboy magazine revenues were down 1% to $23.7 million; advertising revenues were unchanged.

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