Inside these posts: Playboy

Visit our Filed page for categories. To browse by specific topic, see our Inside page. For a list of companies covered on this site, visit our Companies page.

 

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 Club to return to London

From the Yorkshire Evening Post | Almost 30 years since its original club closed in London, Playboy Enterprises said it return to London next year in Mayfair. The new Playboy Club will include a restaurant, cocktail bar and casino, spread over two floors. The return has been discussed for at least a decade but now Playboy and its partner London Clubs International say they will open the venue in the first half of 2011. Get the full story>>