Playboy in Adult-TV Deal With Cisneros
Playboy Enterprises Inc., an adult entertainment company, said it will form a venture worth at least $100 million with Cisneros Television Group to offer its adult television channels outside North America.
Playboy TV International, the venture between Chicago-based Playboy’s entertainment group and the unit of Venezuela’s Cisneros Group, will pay Playboy $100 million over five years for its international TV programming and trademark rights.
The move is part of Playboy’s plan to expand its adult entertainment TV business globally, particularly its new international Playboy and Spice television channels.
In April, Playboy agreed to buy Spice Entertainment Cos., a late-night adult entertainment TV company, for about $100 million. Closely held Cisneros, owner of nine pay-TV channels, will pay $80 million and contribute its existing ownership in Playboy-branded channels for 80.1% of the new venture.
Playboy TV will also distribute a Spanish-language channel in the U.S.
Shares of Playboy’s Class B stock fell 50 cents to close at $17.13 on the New York Stock Exchange.
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