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Stock Market & Financial Investment News

News Breaks
November 13, 2009
06:45 EDTPLA, ICONPlayboy reportedly in talks with buyers including Iconix, WSJ reports
Playboy Enterprises (PLA) is said to be in talks to sell itself with a number of buyers, including Iconix Brand (ICON), the Wall Street Journal's "Deal Journal" reports. Playboy's entertainment revenue rose to $2.3M in Q3 from last year, a 37% increase, making the cable television network a bright spot; print revenue fell 44% in Q3 and its core magazine has been hurt by online competitors. Analysts believe Iconix has about $200M for acquisitions left after paying $109M for a stake in a joint venture for the Ecko portfolio. Reference Link
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