Media

Playboy Enterprises explores sale: Report

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The Playboy Mansion may not be the most scandalous item Playboy Enterprises will put up for sale this year.

The entire media company is exploring a possible sale, according to a Wall Street Journal report citing sources familiar with the situation.

The move comes shortly after the magazine publisher decided to release its first non-nude issue, launching a new re-robed strategy to appeal to a wider range of advertisers.

Playboy magazines at a bookstore in Bethesda, Maryland.
Mandel Ngan | AFP | Getty Images

According to the Journal report, investment bank Moelis & Co. is advising Playboy in its all-out sale, which could fetch the company more than $500 million from potential buyers.

Though Playboy does not release detailed financial information, Hugh Hefner's company generated $38 million from media publishing initiatives and $55 million from licensing its brand to other companies in 2015, according to The Wall Street Journal.

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Playboy Enterprises did not immediately respond to CNBC's request for comment.

Read the full report in The Wall Street Journal.