Playboy Enterprises' Hugh Hefner is opening up to the idea of taking the adult company private.
Hefner proposed to purchase all of the Class A and Class B Playboy stock he doesn't currently own at $5.50 each. He has no plans to sell the company but insisted he is concerned about Playboy's magazine direction, the brand and preserving the company's legacy. Hefner is confident he will secure the financing he needs for a successful acquisition.
The company is valued at approximately $185 million. For further information visit adult news portal XBIZ.com
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