Iconix suspends its negotiation with Playboy Sale

Lost Playboy

Iconix suspends negotiations with Playboy

Bloomberg cited quoted sources as reporting that Iconix Brand Group had suspended negotiations with Playboy due to difficulties surrounding the separation of the Playboy brand and other corporate assets.

The source disclosed on Wednesday that both parties are working hard to solve the problem but may not be able to reach an agreement. Iconix will postpone negotiations with Playboy. The news has caused Playboy's shares on the New York Stock Exchange to fall by 13%. However, since things have not yet been announced, he asked not to disclose his name.

Both Playboy and Iconix declined to comment on the matter, but Playboy spokeswoman Martha Lindeman said Tuesday that the company’s board of directors has already met.

Iconix, which owns and operates clothing brands such as Candies, Joe Boxer and Rocawear, plans to introduce publishing partners to acquire Playboy's magazine of the same name, while retaining part of its brand management license. One of the key issues currently facing it is that it wants to hold the Playboy brand, but it wants to get rid of or shut down the Playboy company. Insider sources revealed that no other buyers have expressed interest in Playboy.

Diving Sales Restricted Editing Outside Business to American Media Inc

In order to cut costs and prompt its same-named magazine to resume profitability within two years, Playboy said last month that it will outsource all publishing activities except editors to American Media Inc. In addition to its famous magazine, Playboy also has its own TV business and licensed business with the "Bunny Ears" brand logo. "Bunny Ear" is a portrait of a long-eared rabbit wearing a bow tie.

Due to the end of business hours in the United States, it was not immediately possible to contact Playboy and Iconix in response to Reuters reports.

Playboy's sale message has been open to buyers for months, even before the appointment of a new CEO in June, when Scott Flanders replaced the daughter of the magazine founder Hugh Hefner, Christie. Hefner.

In the 1960s, Playboy became an authentic logo for the bachelors in their colourful years. It provided nude pictures while ensuring the city's lifestyle. In addition to models, many celebrities such as singers Madonna and Nancy Sinatra have appeared in the magazine.

Now, under the blow of the financial crisis of the entire fiscal year 2008, goodwill has become the most intangible asset of the company's devaluation: after shrinking 79.2%, it has left only 27.76 million US dollars.

From 2004 to 2007, the total assets of Playboy Corporation maintained at approximately US$430 million, and increased slightly year by year; except in the fiscal year of 2008, the net loss of profits was US$156 million, and the assets dropped by 42%, leaving only 2.55. One hundred million U.S. dollars.

Competition and operating pressures have put the brand value of “Playboy” in jeopardy, and the situation of big sales of diving has become a foregone conclusion. As for the fashionable Playboy who will get married, we will keep track of the report.