Playboy’s stocks up as buy-out rumors soar

Rumors served Playboy well on the stock market Thursday.

Bloomberg News broke the story Thursday that the men’s magazine may be bought by Iconix Brand Group, and by the closing bell Playboy’s stock had risen over 40 percent.

The Associated Press report quoted Bloomberg as being the first to report the news, showing that Bloomberg may be becoming the preeminent wire source.

Once the news was out, many business publications picked up on the story.

Reuters reported on the story Thursday, and later updated the article with further information on the possible business deal. In earlier articles it was unclear how much or what portion of the company would be bought, but in the updates Reuters said that through an unnamed source they learned that Iconix is looking to bring in a publishing partner and buy the namesake magazine while it would keep the brand of the company.

CNNmoney.com posted a blurb in the early afternoon saying Playboy issued a “no-comment” statement, and it seems that for now, the companies are staying tight lipped.

The business media, however, will not stay quiet and I’m sure will track the story until long after a deal is either confirmed or denied.

*image source: http://www.flickr.com/photos/27745642@N06/