Playboy Strikes Deal With AMI
Two weeks ago, news leaked that Playboy Enterprises was in talks to sell their holdings to London Fog owner Iconix Brand Group Inc. Hugh Hefner’s publishing empire’s stock has fallen drastically in the last five years, and the recent economic downturn dealt a major blow to the magazine industry, and drew speculation that Playboy was no longer a sustainable enterprise. (In September alone, Playboy‘s ad pages fell 35 percent.) Turns out, the rumors were only half right.
Last night Dylan Stableford reported for The Wrap that Playboy has in fact struck a deal that will help them tackle their mounting debt, but it’s not with Iconix.
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