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Playboy Rejects $100 Million Buyout Bid Led by Hugh Hefner’s Son

Playboy's board unanimously rejected an unsolicited $100 million-plus takeover offer from Cooper Hefner, son of Playboy founder Hugh Hefner.

“While we certainly understand and are appreciative of the interest in Playboy’s unparalleled brand, the Board is confident that the company’s continuing pursuit of its Playboy-focused, asset-light model will better support long-term value for stockholders. PLBY Group went public in February 2021 via a merger with a special purpose acquisition company (SPAC) and is currently led by Kohn. L.A.-based PLBY Group describes itself as “a global pleasure and leisure company connecting consumers with products, content and experiences.” Its flagship consumer brand, Playboy, ended its print edition in March 2020 but last year relaunched the magazine as a digital offshoot of its Centerfold platform, which lets individual creators charge a monthly fee for access to exclusive content, similar to OnlyFans.

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