Hef Is Taking Playboy Private
He’s been talking about it for months, but Playboy founder Hugh Hefner has finally worked a deal out to once again make his magazine a private company. Hef made an offer last July to buy all outstanding shares in Playboy for $5.50 per share. It didn’t happen. Now, in conjunction with a partnership group calling itself Icon Acquisition Holdings, L.P., a deal was reach that eventually settled on $6.15 per share.
Said Hef in a press release announcing the deal: “With the completion of this transaction, Playboy will come full circle, returning to its roots as a private company.
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