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Hugh Hefner. (Reuters/Fred Prouser)
A partnership led by Hugh Hefner has succeeded in taking Playboy private.
Hefner’s Icon Acquisition Holdings LP says more than enough shares of Playboy Enterprises Inc. were tendered for the buyout to go through.
The $6.15-per-share deal was funded with $195 million of debt and $185 million from the private investment firm Rizvi Traverse and Playboy management, including Hefner. Get the full story »
So how much is Hugh Hefner’s iconic Playboy Mansion really worth?
The issue has arisen in a lawsuit accusing the 84-year-old media mogul of trying to take Playboy Enterprises Inc, the publisher known for nude centerfolds, private in a sweetheart deal at other shareholders’ expense.
In an amended complaint filed February 4 in Delaware Chancery Court, shareholders complained that an October 2010 appraisal valued the 29-room Los Angeles mansion at $54 million, 45 times higher than the $1.2 million shown on Playboy’s books. Get the full story »
From the Yorkshire Evening Post | Almost 30 years since its original club closed in London, Playboy Enterprises said it return to London next year in Mayfair. The new Playboy Club will include a restaurant, cocktail bar and casino, spread over two floors. The return has been discussed for at least a decade but now Playboy and its partner London Clubs International say they will open the venue in the first half of 2011. Get the full story>>
