(Telegraph) Hugh Hefner takes Playboy private
Playboy magazine is going private. Hugh Hefner, the founder and flamboyant publisher of the magazine best known for nude centrefolds, has agreed a deal that values the business at $207m (£133m).
Mr Hefner, 84, who founded Playboy with $600 in 1953, floated the company in 1971 and already had a more than 60pc stake in the business. Hefner was forced to increase his offer for the rest of Playboy, and on Monday bid $6.15 a share. FriendFinder Networks, which owns rival adult magazine Penthouse, had offered $210m for Playboy in July.