BREAKING NEWS

Playboy Cans Party

Jan. 26 2009, Published 1:45 p.m. ET

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(Photo: Splash News Online) Playboy's bunny tail is showing less sparkle than ever.

Not only has the 54 year-old magazine closed its New York offices (the mag was always based in Chicago) but they decided not to host their big Super Bowl party this year -- a first for the fun loving Hugh Hefner and his peeps.

Last year's tickets cost attendees $2,000 each, but even that did not cover the cost of the bash.

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With plunging sales -- down from 7 million a month to 2.6 million, at a quarterly loss of $1.3 million -- the mag is banking heavily on its rabbit ear brand and is relaunching its website Playboy.com next month with the idea to make it more visual, more interactive, and more profitable.

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