PLBY Group gains on deal with Byborg Enterprises

Playboy

16/12/2024 13:42

** Shares of Playboy brands owner Plby Group  PLBY.O  rise
15% to $1.62 premarket
    ** Co enters into partnership with online entertainment
company Byborg Enterprises
    ** Under the deal, Byborg Enterprises will license digital
intellectual property and operate Playboy Plus, Playboy TV (both
linear and digital) and the Playboy Club for $300 million 
    ** The transition is expected to be completed by June 30
    ** The agreement includes $20 million in annual minimum
guaranteed payments to PLBY over the initial 15-year term
    ** Byborg to buy a minimum of $25 million of additional
equity from PLBY 
    ** Up to last close, PLBY stock up 41% YTD

 (Reporting by Priyanka.G in Bengaluru)
 ((priyanka.g@thomsonreuters.com;))