Hefner Set to Sell Playboy for USD 300 M - Report

World | November 16, 2009, Monday // 13:51| Views: | Comments: 5
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Hefner Set to Sell Playboy for USD 300 M: Hefner Set to Sell Playboy for USD 300 M - Report The bids to make Playboy private are for more than USD 300 M according to the LA Times who cite “a person familiar with the situation.” Photo by Playboy

Brand management firm Iconix Brand Group and a group led by Jim Griffiths, Playboy's former entertainment president, are both in talks to acquire "gentlemen's" entertainment company Playboy Enterprises Inc.

The bids to make Playboy private are for more than USD 300 M according to the LA Times who cite “a person familiar with the situation.”

Both companies have been talking to Playboy management for about a year, the person said.

Any decision about a purchase will come down to Hugh Hefner, Playboy's founder and public face, who controls about 70% of its voting stock. A buyer would have to persuade Hefner to relinquish control of the company he started 56 years ago.

A spokesman for Playboy declined to comment, as did a spokeswoman for Iconix.

Playboy has been struggling during the financial crisis and has had to shut a number of its offices. In May it was also reported that Playboy Enterprises would be sold to Virgin but a deal was never agreed upon.

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Tags: Jim Griffiths, Iconix Brand Group, Playboy, Hugh Hefner
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» To the forumComments (5)
#5
FIGMENT - 16 Nov 2009 // 15:59:36

Bill

" Fortunately, I need not worry on that score."

That's self-evident. I wasn't worried about you. hehe

#4
Bill - 16 Nov 2009 // 15:50:53

Nellie:

"You should just take precautions to keep everyone focused on their writing, lest lust and desire lead us all to perdition."

Fortunately, I need not worry on that score.

#3
FIGMENT - 16 Nov 2009 // 15:48:50

Bill

You should just take precautions to keep everyone focused on their writing, lest lust and desire lead us all to perdition.

#2
Bill - 16 Nov 2009 // 15:40:42

Nellie:

"This is America. The right to be stupid is enshrined in our founding documents ..."

If it weren't, you'd be in jail!

#1
FIGMENT - 16 Nov 2009 // 15:14:37

This is America. The right to be stupid is enshrined in our founding documents ...

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