[PML1] Bunny beaten: No interest in Playboy

[Mister Coke]

Bunny beaten: No interest in Playboy

Posted Nov 19th 2009 2:10PM by Tom Johansmeye
<http://www.bloggingstocks.com/bloggers/tom-johansmeyer>

Playboy is such a mess that even the hint that a company is interested in it
triggers a 
reaction<http://www.usatoday.com/money/media/2009-11-18-playboy-shares_N.htm>.
Oak Hill Capital Partners, a private equity firm, announced Wednesday that
it has no interest in buying ailing adult media company Playboy
(PLA<http://finance.aol.com/quotes/playboy-enterprises-inc/pla/nys>),
despite previous media reports indicating the contrary. Of course, this sent
Playboy's shares down 3.7%. Oak Hill didn't just say "no way" to the present
but made it clear for the future as well.

This follows a statement by Golden Gate Capital that it wouldn't be involved
in a Playboy acquisition, again, despite suggestions in the media that it
might make a move for the bunny. The latest possible buyer is Iconix Brand
Group, which is generally hungry for brand
acquisitions<http://www.bloggingstocks.com/2009/11/13/iconix-sets-its-sights-on-playboy/>.
Playboy is keeping its mouth shut on the matter.



To say Playboy has been looking for a buyer is an understatement. When Scott
Flanders took the reins in June -- when Christie Hefner, founder Hugh
Hefner's daughter was finally sent packing -- he seemed singularly focused
on getting someone to acquire the company. And, there have been rumors of
the company being acquisition bait for years. These days, however, the
situation is particularly severe. Ad revenue is off 44% to $9.45 million for
the third quarter of 2009, and circulation for the first six months of the
year fell 9% to 2.45 million.

http://www.bloggingstocks.com/2009/11/19/bunny-beaten-no-interest-in-playboy/
-- 
Mister Coke


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