Feeds

Hugh Hefner makes private offer to Playboy shareholders

Ancient grumble mag publisher fights the internet

SANS - Survey on application security programs

Hugh Hefner, 84-year old founder of Playboy wants to buy back the company and take it private, with a bit of help from the bank.

Actually Hefner said he's got backing from Rizvi Traverse to buy back the group for £120m. The investment group is "highly confident ample financial resources will be available to complete the transaction."

He's offering $5.50 for every share he doesn't already own. Hefner owns 69.5 per cent of Class A stock and 27.7 per cent of Class B stock.

Hefner has written to the board of Playboy Enterprises, Inc to share his concerns about the editorial direction of the magazine, the brand and, we are told, the "legacy".

The company is made up of the entertainment group which deals with the TV, radio and film products. The print digital group deals with the US and international editions of the grumble mag as well as playboy.com. Finally the licensing group punts Playboy logos to assorted nasty tracksuit and pencil case manufacturers.

The Hef has been knocking out magazines since late 1953. It claims 1.5m subscribers in the US.

But he might face a battle from old enemy Penthouse - for so long the two were the yin and yang of dead tree-based titillation. The arch rival to Playboy bought Adult Friend Finder for $500m back in 2007 - evidence of its more aggressive approach to new technology - and is said to be working on its own offering.

In contrast Playboy did offer the waiting world its first 3D centrefold in March. ®

3 Big data security analytics techniques

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.