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Playboy on Block for $300M

Hef said to be loathe to part with firm

By Matt Cantor,  Newser Staff

Posted May 22, 2009 1:33 PM CDT

(Newser) – With the magazine at its heart struggling against the tide of the Internet, Hugh Hefner’s Playboy empire is seeking a buyer for $300 million, the New York Post reports. That’s three times its current market capitalization, but sources say Hef won’t sell unless he can get the cash to keep up his luxe life. So far, none of the wealthy firms approached has bitten.

“Everyone says he’ll never let go, that he’ll take it with him to the grave,” sources say of Hefner, 83, who started the magazine in 1953. A spokeswoman for Playboy tells Crain’s Chicago Business “it is not being shopped.”

From left, Holly Madison, Hugh Hefner, Bridget Marquardt, and Kendra Wilkinson arrive at the Fox Reality Channel Really Awards in Los Angeles, Sept. 24, 2008.
From left, Holly Madison, Hugh Hefner, Bridget Marquardt, and Kendra Wilkinson arrive at the Fox Reality Channel Really Awards in Los Angeles, Sept. 24, 2008.   (AP Photo)
Hugh Hefner, founder of Playboy Enterprises, smiles during the Festival di Sanremo Italian song contest, in San Remo, Italy, Feb. 20, 2009.
Hugh Hefner, founder of Playboy Enterprises, smiles during the "Festival di Sanremo" Italian song contest, in San Remo, Italy, Feb. 20, 2009.   (AP Photo)
Hugh Hefner arrives at the premiere of The House Bunny in Los Angeles on Wednesday, Aug. 20, 2008.
Hugh Hefner arrives at the premiere of "The House Bunny" in Los Angeles on Wednesday, Aug. 20, 2008.   (AP Photo/Matt Sayles)
Hugh Hefner poses at the Playboy Mansion in Los Angeles in 2007.
Hugh Hefner poses at the Playboy Mansion in Los Angeles in 2007.   (AP Photo)
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COMMENTS
Showing 3 of 6 comments
jaguarj
May 23, 2009 6:06 AM CDT
And they ain't doin it for nuthin!!
Circusdog
May 23, 2009 1:19 AM CDT
Wrong observer...it's being bought by someone from a far far galaxy...Hand Solo
Assassin
May 22, 2009 10:36 AM CDT
Well he still gets those hot pieces of Ass to be slobbin' & bobbin' on his throbbin' nobbin' - not bad for an Old Fart!

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