LOS ANGELES BUSINESS JOURNAL. March 25, 2016. Peter Kreisky, founder of Kreisky Media Consultancy in New York, said Friday that while the timing of the announcement was unexpected, it was long overdue. “As long as (Hugh) Hefner was around, the enterprise was print-centric, so I am surprised that it took (the firm) so long to realize that it passed its sell-by date,” he said. “With the right buyer, however, Playboy could retain its great value in the hands of new management who can breathe new life into it with a different and more modern approach.”