Hollywood Execs Reportedly in Advanced Talks to Buy Playboy

Oct 27, 2016 9:05 AM PST

BEVERLY HILLS, Calif. — A pair of veteran mainstream show business execs, Jeff Sagansky and Harry Sloan, are in advanced talks to acquire Playboy Enterprises, according to a report.

Reuters said that Double Eagle Acquisition Corp, Sagansky and Sloan's acquisition company, is negotiating the acquisition of Playboy as part of a portfolio of assets it is seeking to buy from private equity firm Rizvi Traverse Management.

The proposed purchase price is valued between $2 billion and $3 billion, sources told Reuters.

Rizvi Traverse's portfolio also includes stakes in Twitter Inc, SpaceX, Square Inc and Snapchat, as well as RealD Inc.

Reuters said it is unclear whether Double Eagle would acquire all the assets of Playboy Enterprises.

Beverly Hills, California-based Playboy Enterprises publishes Playboy magazine in the U.S. It also has global licensing agreements for consumer products that feature its brand.

The company, founded by Hugh Hefner in 1953, was taken private in 2011 by Rizvi Traverse in a deal that valued Playboy at $207 million.

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