Hefner to Buy Back Playboy?

Private Parts

Updated Apr. 24, 2017 6:30PM EDT / Published Jul. 12, 2010 8:09AM EDT

Does the Hef still got it? Hugh Hefner is in talks to buy Playboy back from its shareholders, according to the Chicago Tribune. The company’s shares surged 35 percent on Monday morning on the news that Hef wanted to take Playboy private once again. Hefner has proposed buying up the company’s shares. The 84-year-old currently owns 69.5 percent of its class A common stock and 27.7 percent of its class B common stock. His bid values the company at $185 million. The board has yet to make a decision on the offer.

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Hefner to Buy Back Playboy?