Playboy founder Hugh Hefner buying back iconic adult magazine
Posted on January 12, 2011 (Tammy)
Playboy founder Hugh Hefner is buying back his iconic magazine. Hefner will splash out $6.15 a share, which values the company at $207m, after convincing his board to buy back the adult mag from a private equity firm. Hefner, 84, owns 70 per cent of Playboy shares and beat out a rival bid from the [...]