Stock Update - Playboy Enterprises (NYSE:PLA) Opens 11% up

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Playboy Enterprises, Inc. (NYSE:PLA)  surged 11% to $4.52 after Reuters reported that Playboy Enterprises, Inc. is in preliminary talks to sell itself to Iconix Brand Group Inc., people familiar with the matter said. At this point, the goal of Iconix, which owns and licenses clothing brands such as Candies, Joe Boxer, and Rocawear, is to bring in a publishing partner to buy Playboy Enterprises, Inc.'s namesake magazine while it would keep the brand licensing part of the company, one of the sources said.

Playboy Enterprises, Inc. (Playboy) is a media entertainment and lifestyle company. Playboy operates in three segments: Entertainment, Publishing and Licensing. The Entertainment Group operations include the production, marketing and sales of programming under the Playboy, Spice and other brand names, which are distributed through various channels, including domestic and international television (TV), Internet, wireless and satellite radio.