Tuesday, May 26, 2009

Hef selling out?

Word is 83-year-old Hugh Hefner may be ready to retire after 56 years of nakedness. He "could" be dealing on the down with British billionaire Sir Richard Branson to take over the Playboy empire.

"Playboy is battling the recession and the rise in internet pornography, with the firm recently posting losses of $13 million for the first three months of 2009." A spokesperson denies any offers, but admits Hefner would "listen to proposals that could create value for all of our shareholders".....at a reported price set at $300 million.

Back in 1952 Hugh was working for Esquire, but left after being denied a $5 raise. A year later he saved $8000 from investors to launch Playboy. But he didn't want to name the mag Playboy....he wanted to call it Stag Party. An existing magazine, Stag, told Hef that they would legally protect their trademark if he were to launch his magazine with that name. So there ya go.

FF/PR Photos