Playboy Enterprises, Inc., together with its subsidiaries and predecessors, is
referred to in this Annual Report on Form 10-K by terms such as �we,� �us,�
�our,� �Playboy� and the �Company,� unless the context requires otherwise. We
were organized in 1953 to publish Playboy magazine and are now a global media
and lifestyle company marketing the Playboy brand through a wide range of
multimedia properties and licensing initiatives. The Playboy brand is one of the
most widely recognized and popular brands in the world. The strength of our
brand drives the financial performance of our media and licensing businesses.
Our programming and content are available worldwide on television networks,
websites, mobile platforms and radio. Playboy magazine has a reputation founded
on its high-quality photography and editorial excellence.