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Penthouse Offers to Buy Playboy

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Posted on Jul 16, 2010
Wikimedia Commons

Hugh Hefner at 84: Like Betty White, he never seems to go away.

Is it media concentration if no one reads the articles? The owner of Penthouse magazine has offered to buy rival Playboy for $210 million in a move that would bring two of the largest men’s magazines under the same ownership umbrella.

For those who care, Hugh Hefner, the smoking-jacket-robed, Viagra-popping founder of Playboy, would retain editorial control of the magazine and continue to frolic at the Playboy Mansion in Los Angeles. —JCL

Reuters:

The owner of Penthouse magazine on Thursday offered to buy rival Playboy Enterprises Inc for $210 million, making a bid that was 13 percent above the buyout proposal from Playboy’s iconic founder Hugh Hefner earlier this week.

To sweeten the deal, Penthouse publisher FriendFinder Networks said Hefner is welcome to retain editorial control of Playboy magazine and to continue to reside in the Playboy Mansion—a property valued at roughly $40 million, including art, according RBC Capital Markets estimates.

Hefner “built a cultural icon and he is a cultural icon,” FriendFinder Chief Executive Marc Bell told Reuters in a telephone interview. “He is trying to protect his legacy. We would love nothing more than to help him achieve his goal, protect his legacy and really become a partner.”

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If you have trouble leaving a comment, review this help page. Still having problems? Let us know. If you find yourself moderated, take a moment to review our comment policy.

By Herve Leger, August 27, 2010 at 8:31 pm Link to this comment
(Unregistered commenter)

Are you always vexed about wearing what kind of dress at a banquet?

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By samosamo, July 17, 2010 at 3:12 pm Link to this comment

****************


Just so long as the bunnies are paid for their favors, it won’t
matter where the money comes from even it meant double the
work ‘load’. And bunnies really work ‘hard’ for their money.

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By expat in germany, July 17, 2010 at 5:41 am Link to this comment
(Unregistered commenter)

Slow day in the newsroom?

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PatrickHenry's avatar

By PatrickHenry, July 16, 2010 at 5:07 pm Link to this comment

It should suffer the decline of printed word on paper as newspapers, but we don’t buy it for the articles.

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By Monalisa, July 16, 2010 at 9:22 am Link to this comment

Woah, I wouldn’t have thought Playboy was such
in a financial hole. Must be expensive maintaining
all those bunnies.

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By dcrimso, July 16, 2010 at 8:33 am Link to this comment

Playboy and Penthouse porn magazines?  So Borders bookstore is a purveyor of porn?  Pretty loose definition of porn, wouldn’t you say JCL?

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