CHICAGO (AP) – Playboy’s new CEO says he intends to concentrate on courting new business partners instead of potential buyers for the slumping adult entertainment company.

In an interview Tuesday, Scott Flanders said he believes Playboy can do a better job licensing its bunny logo and other assets. He also expects it to be easier to attract new partners, reasoning that the 18-month-old recession has made more companies receptive to trying different things.

Flanders, 52, will join Chicago-based Playboy July 1 under a four-year contract that will pay him a starting salary of $875,000. He currently runs Freedom Communications, owner of The Orange County Register.

Playboy hired Flanders after signaling its interest in selling the company earlier this year.