AOL Money & Finance

Rumor mill: Playboy has a new suitor in the form of Richard Branson

More

The latest white knight that may swoop in to rescue Playboy Enterprises, Inc. (NYSE: PLA) comes in the form of an eccentric British billionaire -- Richard Branson, chairman of Virgin Group, which includes Virgin Atlantic Airways, Virgin Media, and dozens of other businesses. I'm going to refrain now from making an obvious joke playing on the supposedly colliding notions of "Virgin" and "Playboy."

A UK newspaper is saying this week that Branson could be interested in scooping up the house that Hefner built, potentially as part of his Virgin Media group. (Update: Reuters reported the afternoon of May 28 that Virgin Media Group is not interested in buying Playboy). PLA shares, which hit a low of $1.15 in March, are currently trading at $3.18 -- up 6.7% today amid buyout hopes. The company's current market cap is about $106 million, making the beleaguered but iconic brand a relative bargain for the right buyer.




Reportedly, the price tag PLA is seeking is around the $300 million mark, though founder and controlling shareholder Hugh Hefner is allegedly resisting a sale of his baby bunny, intending instead to ultimately pass on ownership to his now-teenaged sons.

Maybe none of this - Branson's interest, Hef's reluctance - is actually true, but what a corporate battle royale that could be! Branson v. Hef for control of the Playboy empire. Now that's a reality show I'd watch.

Beth works for The Options News Network (www.ONN.tv), which provides daily options commentary. The above comments are not intended as trading advice.

Reader Comments (Page 1 of 1)

Symbol Lookup
IndexesChangePrice
DJIA-17.2410,433.71
NASDAQ-6.832,169.18
S&P 500-0.591,105.65

Last updated: November 25, 2009: 08:01 AM

BloggingStocks Exclusives

Hot Stocks

DailyFinance Headlines

Latest from BloggingBuyouts

TheFlyOnTheWall.com Headlines

BioHealth Investor Headlines

WalletPop Headlines

My Portfolios

Track your stocks here!

Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

BloggingStocks Partners

More from AOL Money & Finance

WalletPop Headlines