Flanders says that freeing up cash for celebrity pictorials is a chief
aim of the deal. Actress Tara Reid will pose nude for the first time in the combined January/February issue. Flanders says he is open to outsourcing arrangements for other parts of the company as
The agreement comes as Playboy entertains overtures to acquire the company. Executives confirm that the company and Hugh Hefner, its founder and editor-in-chief, have investment banks exploring sale possibilities.