8-K

 
   As filed with the Securities and Exchange Commission on November 14, 1997


                      SECURITIES AND EXCHANGE COMMISSION

                            Washington, D.C. 20549

                                  ----------

                                   FORM 8-K


                                CURRENT REPORT


                      Pursuant to Section 13 or 15(d) of
                      the Securities Exchange Act of 1934

               Date of Report (Date of earliest event reported):
                               November 6, 1997



                           PLAYBOY ENTERPRISES, INC.
            (Exact name of registrant as specified in its charter)


        Delaware                    1-6813                 36-2258830
     (State or other              (Commission            (IRS Employer
     jurisdiction of              File Number)       Identification Number
     incorporation)

      680 North Lake Shore Drive
          Chicago, Illinois                                  60611
(Address of principal executive offices)                   (Zip Code)


                                (312) 751-8000
             (Registrant's telephone number, including area code)

 
Item 8.  Change in Fiscal Year.
- -------------------------------

          On November 6, 1997, Playboy Enterprises, Inc. determined to change 
its fiscal year-end from June 30, which was the fiscal year used in its most 
recent filing with the Commission, to December 31. The report covering the six-
month transition period ending December 31, 1997 will be filed with the 
Commission on Form 10-K.

                                      -2-

 
                                  SIGNATURES

          Pursuant to the requirements of the Securities Exchange Act of 1934, 
Playboy Enterprises, Inc. has duly caused this Current Report on Form 8-K to be 
signed on its behalf by the undersigned thereunto duly authorized.


                                        PLAYBOY ENTERPRISES, INC.


                                        By  /s/ Linda G. Havard
                                            ----------------------------------
                                            Linda G. Havard
                                            Executive Vice President,
                                            Finance and Operations and
                                            Chief Financial Officer

Date:  November 14, 1997


                                      -3-

 
                                 EXHIBIT INDEX

Exhibit                                                           Sequential
Number                       Document Description                 Page Number
- -------                      --------------------                 -----------

 99.1            Text of Press Release dated November 14, 1997


                                      -4-

EX-99.1

 
[LOGO]                               NEWS
                        FROM PLAYBOY ENTERPRISES, INC.

                                       Contact:
                                       Martha Lindeman  312-751-8000 x2650


                    PLAYBOY ENTERPRISES CHANGES FISCAL YEAR
                             TO CLOSE DECEMBER 31

CHICAGO, November 14, 1997 -- Playboy Enterprises, Inc. today announced that its
board of directors approved a change in the company's fiscal year end from June
30 to December 31. The change, effective January 1, 1998, creates a six-month
transitional year, which started July 1, 1997, and will end December 31, 1997.

     Playboy Chairman and Chief Executive Officer Christie A. Hefner said: "The
change to a calendar year will help facilitate our planning and budgeting
process. It increases our responsiveness to customers, such as advertisers and
cable operators, and our partners worldwide who operate on a calendar year. In
addition, many of our businesses, including Playboy magazine and the catalog and
product marketing operations, are influenced by the holiday season. We believe a
calendar year provides a more logical and accurate presentation of the company's
operations and finances."
                                    * * * *

     Playboy Enterprises, Inc. is an international media and entertainment
company that publishes Playboy magazine in the United States and licenses
editions internationally, develops and markets other branded media products,
including newsstand specials, calendars, books, CD-ROMs and Internet sites;
creates and distributes programming for domestic pay television, worldwide home
video and international television; markets the Playboy trademarks on apparel,
accessories and products sold around the world; operates a direct marketing
business, including the Critics' Choice Video, Collectors' Choice Music and
Playboy catalogs; and will open the Playboy Casino & Beach Hotel on the Greek
island of Rhodes.