Bunny hutch not included
If you have $300 million to spare, Hugh Hefner would like to hear from you:
Playboy Enterprises, the far-flung empire founded by Hugh Hefner in 1953, is quietly being shopped around for $300 million, sources tell Media Ink.
But so far, well-heeled suitors that have been approached, like Apollo Capital Partners and Providence Equity Partners, haven’t stepped up.
The battered company’s market capitalization is now around $100 million and nobody has been willing to pay the substantial premium that it would take to persuade Hef to sell.
Sources said the sellers are looking for far more than the company’s market capitalization because that would ensure Hef has enough on hand to maintain his lavish lifestyle.
The magazine has already cut back to 11 issues a year, but the product quality has been suffering for some time:
Playboy Interview, April through June 1965: Art Buchwald, Jean-Paul Sartre, Melvin Belli.
Playboy Interview, April through June 2005: Les Moonves, James Spader, Lance Armstrong.
Personally, I think Adobe should buy it: if there’s any common component to be found in contemporary commercial erotica, it’s Photoshop.
But the funniest possible acquisition, I submit, would be by Virgin.
Jeffro »
25 May 2009 · 10:54 am
Dow-Corning???
McGehee »
25 May 2009 · 9:21 pm
Energizer.
Kirk »
26 May 2009 · 7:41 am
Kleenex?
McGehee »
26 May 2009 · 11:36 am
LOL, Kirk — my wife had that same suggestion.