** 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;))
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