«I JUST READ EVERYTHING»

Hugh Hefner, the pajama-clad entrepreneur who built a brand on nude centrefolds, wants his company Playboy Enterprises Inc. to cover up. Playboy announced Monday that Mr. Hefner had made an offer to take the company private, with a bid to buy all outstanding shares for $5.50 (U.S.) each. That values the company at roughly $185-million. The announcement cited “Hefner's concerns for, amongst other matters, the [Playboy] brand, the editorial direction of the magazine and [Playboy’s] legacy.” That legacy began in 1953, when the first Playboy magazine was published with a nude Marilyn Monroe on the cover. Playboy Enterprises went public in 1971, and the magazine’s popularity peaked that decade with a circulation of 7.2 million.

The Globe & Mail
July 14 2010