Playboy is heading back to school to boost the bottom line.
Riding a wave of renewed popularity among consumers around the globe, Hugh Hefner's Playboy empire is set to launch a sexy social networking site dedicated solely to college students, its latest online venture as it tries to reinvigorate its stagnant finances.
The launch of Playboy U comes as Playboy's 54-year-old magazine continues to lose money and readers.
In 2000, Playboy posted a $47.6 million loss. However, things are looking up since then, thanks to a Sirius radio broadcast and the hit series "Girls Next Door." Last year, Playboy posted a $2.3 million dollar profit and already at $5.7 million this year.
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