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Hugh Hefner's Son Cooper Offers $100 Million Cash to Buy Iconic Playboy Brand: 'My Family's Legacy' (Exclusive)

Cooper Hefner is making a bid to buy Playboy — the company founded by his late father, Hugh Hefner — in a $100 million all-cash offer.

Cooper confirmed the report to PEOPLE, saying in his statement, "In an era where heritage brands with modern relevance are in demand, I believe Playboy can once again lead conversations around lifestyle, entertainment and individual freedom. He will be greatly missed by many, including his wife Crystal, my sister Christie and my brothers David and Marston, and all of us at Playboy Enterprises," Cooper said in a statement issued at the time. Since Hugh's death, Playboy ownership has evolved and its iconic magazine was shuttered in 2020 amid the coronavirus pandemic, with the company saying it would shift its focus to digital growth.

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