Feeds

Hugh Hefner makes private offer to Playboy shareholders

Ancient grumble mag publisher fights the internet

The next step in data security

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. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Bono: Apple will sort out monetising music where the labels failed
Remastered so hard it would be difficult or impossible to master it again
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.