TAIPEI (Taiwan News) — The American men's magazine Playboy announced Wednesday (March 18) it is shutting down its print publication due to losses caused by the Wuhan coronavirus (COVID-19) pandemic.

After having played a major role in the sexual revolution of the late 20th century, the iconic magazine's circulation has declined in the digital age due to its dependency on print products. In a Medium post published Wednesday, Playboy's CEO Ben Kohn said the coronavirus pandemic has shown the company it can no longer continue in its present form.

Kohn said the outbreak sped up Playboy's decision to transform its print products into digital versions. He added the upcoming Playboy Spring 2020 Issue would be the company's final print publication in the U.S., according to Forbes.

Founded in 1953 by Hugh Hefner, Playboy has become a global brand. The company is known for its bunny-ears trademark and the first issue featured beauty icon Marilyn Monroe on the cover, reported Liberty Times.

Playboy founder Hugh Hefner. (AP photo)