Playboy Enterprises

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Hefner succeeds in bid to take Playboy private

Hugh Hefner. (Reuters/Fred Prouser)

A partnership led by Hugh Hefner has succeeded in taking Playboy private.

Hefner’s Icon Acquisition Holdings LP says more than enough shares of Playboy Enterprises Inc. were tendered for the buyout to go through.

The $6.15-per-share deal was funded with $195 million of debt and $185 million from the private investment firm Rizvi Traverse and Playboy management, including Hefner. Get the full story »

Lawsuit questions value of Playboy Mansion

So how much is Hugh Hefner’s iconic Playboy Mansion really worth?

The issue has arisen in a lawsuit accusing the 84-year-old media mogul of trying to take Playboy Enterprises Inc, the publisher known for nude centerfolds, private in a sweetheart deal at other shareholders’ expense.

In an amended complaint filed February 4 in Delaware Chancery Court, shareholders complained that an October 2010 appraisal valued the 29-room Los Angeles mansion at $54 million, 45 times higher than the $1.2 million shown on Playboy’s books. Get the full story »

Moody’s gives Playboy corporate debt a B2 rating

The corporate debt rating for Playboy Enterprises Inc. was set Friday at “B2″, a speculative or junk rating, by Moody’s Investors Service.

The same rating was placed on $195 million worth of senior secured credit facilities. A “B3″ probability of default rating was issued.

The ratings were established in connection with the buyout of the Chicago company by a partnership headed by founder Hugh Hefner. Get the full story »

Playboy ends dispute with DirecTV

From The Hollywood Reporter | Playboy Enterprises will take a $13 million charge on its fourth-quarter earnings after having ended its legal dispute with DirecTV, the company said in a filing Thursday.

Playboy: ‘No plans’ to leave Chicago

Hugh Hefner, founder of Playboy Enterprises, said in an interview the company is “probably going” to move its headquarters out of Chicago.

A Playboy spokeswoman said Tuesday, however, that the company has “no plans” to move from Chicago.

Hefner, who is Playboy’s editor-in-chief and chief creative officer, was asked by Matt Pais of Chicago Tribune Media Group’s whether the offices will be moving out of Chicago, where Hefner launched his groundbreaking Playboy magazine and empire in 1953.

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