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Hugh Hefner's Playboy empire became an iconic part of pop culture, but struggled to keep up. Here's what led to the company's rise and fall.

Playboy’s best selling issue sold more than 7 million copies. At the peak of its print circulation, Hugh Hefner’s magazine generated $12 million in revenue. Hefner’s Playboy empire expanded to include the Playboy clubs, an E! reality TV show and sold billions of dollars worth of merchandise. But today, Playboy is a mere shell of what it once was. Here’s what lead to the rise and fall of Playboy.

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