Porn Abandoning Office Space in New York is Clear Sign of the Times; POTC likes SRS April $80 Call Options

NEW YORK (AFP) -- Focusing on boardroom, not bedroom needs, famed men's magazine Playboy is pulling out of its New York offices, a spokeswoman said Monday. "We are closing our New York offices to integrate our online and printed publishing," Martha Lindeman told AFP. She said that about 100 jobs were affected and that although some employees would transfer to offices in Chicago, or be given other options, the "majority" would leave the company. Only a "small editorial and sales presence" will remain in New York, where the racy magazine has leased 5th Avenue premises since the early 1990s. The move will take place May 1. Playboy Enterprises (PLA) explained in an earlier statement that it intends to "streamline operations across the company, which will include the elimination of additional positions and reduction of other expenses." New York is not the only place where Playboy founder Hugh Hefner is feeling blue. The Los Angeles Times reported this month that Hefner is selling his family home in California for nearly $28 million. Hefner's Playboy Mansion appears safe for now: the 83-year-old continues to live there with three models. Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=opwgYsaCMSZ0RM8N0TznMw%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones Newswires March 23, 2009 15:40 ET (19:40 GMT) Copyright (c) 2009 Dow Jones & Company, Inc.- - 03 40 PM EDT 03-23-09