Playboy again reportedly up for sale
13 Nov 2009
Playboy Enterprises, a media and lifestyle company and publisher of Playboy magazine is again reported to be in takeover talks with Brand management firm Iconix Brand Group and a group led by Jim Griffiths, Playboy's former entertainment president, in a deal valued at more than $300 million.
Bloomberg reported yesterday, citing a person familiar with the situation that Iconix Brand Group has looked at Playboy's finances, and the discussions may not lead to a transaction.
Rumours had been floating since February that Playboy could be up for sale, when former interim CEO Jerry Kern said the company would be open to offers.
This new talks to acquire Playboy Enterprises comes amid a report in May, where British billionaire Sir Richard Branson's Virgin Group was in talks to add the iconic 'Bunny' to his stable. (See: Richard Branson may buy Hugh Hefner's Playboy for $300 million: report)
New York-based Iconix, a brand management company that licenses brands to retailers and manufacturers, licenses brands like Danskin, Echo, Mossimo and London Fog clothing brands to stores as Kmart, Sears, Macy's, Target, JC Penney and others.
The company had said in October that it has about $200 million for acquisitions after acquiring a large stake in a joint venture for the Ecko portfolio of clothing lines for $109 million.
