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PLAYBOY ENTERPRISES INC. TO ACQUIRE POSTINGS CATALOG FROM RANDOM HOUSE SUBSIDIARY

 PLAYBOY ENTERPRISES INC. TO ACQUIRE POSTINGS CATALOG
 FROM RANDOM HOUSE SUBSIDIARY
 CHICAGO, April 27 /PRNewswire/ -- Playboy Enterprises' catalog subsidiary, Critics' Choice Video Inc., has agreed to acquire the customer file, video inventory and certain other assets of Postings, a specialty entertainment catalog published by Publishers Central Bureau, a subsidiary of Random House. As a result of the deal, Critics' Choice Video has solidified its position as the number one consumer catalog of prerecorded movies in the United States, said Playboy Publishing Group President Michael Perlis.
 "The catalog business is one of our fastest growing operations," said Perlis, "and our investment in Postings will substantially increase our ability to build this business and leverage our direct marketing strengths. Postings will be merged with Critics' Choice Video beginning July 1, when the Critics' Choice Video catalog will be mailed to Postings customers for the first time. Video sales accounted for $12 million of Postings' total sales last year, and we expect a strong response from these new customers."
 Critics' Choice Video catalog currently offers more than 2,500 movies and special interest titles and is published quarterly. Playboy Enterprises acquired 80 percent of the catalog in 1988 and brought on board its founders, Herb Laney and former Spiegel Chairman Hank Johnson, to oversee the company's entire catalog operation. Laney manages day-to-day operations as senior vice president of direct marketing while Johnson serves as a consultant.
 "We have become the leader in video catalogs as a result of our efforts to provide superior customer service," said Laney. "Special services, such as 'Order It Today, Watch It Tomorrow' and 'Video Search Line,' fulfill customer demand for fast, friendly service. The 'Video Search Line' is a call-in service that provides information on and access to 35,000 titles, including rare and hard-to-find movies, contained in our proprietary database. Both the search line and 'Order It Today, Watch It Tomorrow' programs have produced strong customer loyalty and have encouraged repeat sales."
 Since the acquisition of Critics' Choice Video, PEI catalog sales have tripled to $18.1 million. For the first half of fiscal 1992, catalog revenues rose another 46 percent to $13.3 million and operating income grew from $.3 million to $1.1 million when compared to the same period last year. In December 1991, Critics' Choice Video acquired the Blackhawk Films catalog from Republic Pictures and also merged it into the existing catalog.
 Playboy Enterprises Inc. is an international publishing and entertainment company that publishes Playboy magazine and related publications, including newsstand specials and calendars; licenses 15 foreign editions of Playboy magazine; owns and operates a catalog business; creates and distributes programming for domestic pay television, worldwide home video and international television; and markets the Playboy trademarks on apparel, accessories and products for consumers around the world. The company's publishing interests also include a 20 percent stake in the duPont Registry and a partnership in SV Entertainment.
 -0- 4/27/92
 /CONTACT: Terri Tomcisi of Playboy Enterprises, 312-751-8000, ext. 2655/ CO: Playboy Enterprises Inc.; Publishers Central Bureau; Random House ST: Illinois IN: PUB SU: TNM


JL -- LA018 -- 3199 04/27/92 13:02 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Apr 27, 1992
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