Playboy May Be Sold To Iconix

Bloomberg is reporting that Playboy Enterprises Inc. is in talks to sell itself. The buyer would be Iconix Brand Group Inc., which owns clothing brands Candie's, Danskin and London Fog.

Playboy's management has been looking for a buyer since Scott Flanders was appointed as chief executive officer in June, one person close to the situation said. Flanders, the former CEO of Freedom Communications Inc., replaced Christie Hefner, who had run Playboy since 1988 and is the daughter of founder Hugh Hefner. Hugh Hefner, 83, has a controlling stake, with about 70 percent of Class A voting shares and 28 percent of the Class B shares.