Stocks soared today after news that Hugh Hefner‘s publishing house, Playboy Enterprises Inc., was reportedly being negotiated for a sale to Iconix Brand Group Inc. Playboy‘s struggles with its finances this past year have been well-documented, and Hugh’s daughter Christine Hefner stepping down from her role as CEO of the Playboy publisher earlier this year only added to the unraveling faith in the company that had felled 76 percent of their stock in under five years. However, reports of a buy-out jumped the publishing house 33 percent up to $3.80 before noon, and may have closed the company at a 66 percent increase for the day.
Both Playboy and Iconix have refused to talk to reporters about the upcoming sale, since the negotiations have not been finalized.
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