Long suffering Playboy shareholders may get an escape as Hugh Hefner’s empire looks to be officially on the block.
According to the New York Post, the company is now being shopped for $300 million, a hefty premium to its $100 million market cap, and a huge obstacle to attracting buyers. The reason for the big price tag is Hef’s need to maintain his lifestyle, the paper said.
“Everyone says he’ll never let go, that he’ll take it with him to the grave,” said one source.
Hef still controls about 70 per cent of the voting stock, and other two largest shareholders were Wells Capital and Fidelity, according to the most recent filings.
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