COMPANY TOWN ANNEX

Playboy Enterprises to Launch Cable Channel in Japan: The Chicago-based entertainment company made an agreement with Tohokushinsha Film Co. to begin a 24-hour cable TV network in Japan to be called the Playboy Channel. The premium service will be available to cable subscribers and hotels. It is scheduled to begin Oct. 1. Playboy Enterprises Inc. said Tohokushinsha will have an 80% stake; Playboy’s 20% will be the highest equity position a foreign firm can take in a Japanese network. Playboy said the long-term deal involves 700 hours of programming during the first five years. Playboy will get a royalty for the use of its logo.