13 November, 2009
Playboy in talks with Griffiths, Golden Gate
NEW YORK, Nov 13 (Reuters) - Playboy Enterprises Inc (PLA.N) is in talks with Jim Griffiths, a former entertainment president at Playboy, and private equity firm Golden Gate Capital, to sell itself for about $300 million, a source familiar with the matter said Friday.
Griffiths is partnering with Golden Gate on the talks, the source said, requesting anonymity because the discussions are not public.
The company is also in separate talks with Iconix Brand Group (ICON.O) to sell itself, sources told Reuters on Thursday. [ID:nN12434560]
The goal of Iconix, which owns and licenses clothing brands such as Candies, Joe Boxer, and Rocawear, is to bring in a publishing partner to buy Playboy's namesake magazine while it would keep the brand licensing part of the company, one of the sources said.
In addition to its well-known adult magazine, Playboy also has TV operations and a licensing business based on its "bunny ears" logo. (Reporting by Jui Chakravorty, editing by Gerald E. McCormick)
Source: http://www.reuters.com
Playboy in talks with Griffiths, Golden Gate Added: (13.11.2009)
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