Playboy Magazine got its ass kicked by the internet and spiralled into decline. Since the eighties Playboy has struggled along on the back of a trashier mag and licensing fees.
I just hope that if Playboy goes private, Hefner does to. I can respect a pinup mag with a pedigree, but his reality show is a boil on the butt of popular culture. In my (admittedly not-terribly-important) opinion, porn magnates should be obscene and not heard (or seen).