Hugh Hefner Going Private With Playboy?

August 1, 2010

Is the iconic founder Hugh Hefner going private with his mega company Playboy Enterprises Inc.? After he announced his intentions, they also got a competing offer and drama over what would actually happen is ensued! For all the details, photos and video, continue below for the whole story!

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The company’s Chief Creative Officer felt like they would be in better hands if the company was no longer publically traded. He also didn’t want to do a merger with their competitors and this way it is supposed to benefit the legacy of the enterprise, himself and the current shareholders. So will Playboy no longer be public?

Is it just me or is it funny to hear Hugh Hefner & going private in the same sentence?! For some more details on the possibility you can head over to the New York Times. And don’t miss these other great websites and their hot stories for today!

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Back to the thoughts of the 84 year old industry tycoon. He said plainly:

“I simply think the stock is undervalued and, having just celebrated my birthday, I’m looking ahead to the future. I want to make sure the legacy of the company is secure. You know, it’s much less expensive to be private. I’m just trying to do the right thing for everyone involved. The stock has been beaten up – something a lot of other companies have been experiencing, I might add.”

What do you think about Hugh Hefner’s going private plans? Is this a smart move or is there something else going on? Let me know what you think below, after you check out these pictures and video.

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Photos: Worth, DJDM, Judy Eddy, Agent 47

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2 Responses to “Hugh Hefner Going Private With Playboy?”

  1. 1
    Jen Elly Says:

    That would make things interesting! He is so old – he shouldnt be worrying about his business anymore lol.

  2. 2
    Jeanette Says:

    I think it’s a wise choice on his part!