Who owns Playboy now?
HUGH Hefner's Playboy magazine published nudes and racy columns until wound down its printing operations in 2020.
Since then, Hefner's family sold its 35 per cent stake to a tech-focused investment company in 2018.
Who owns Playboy now?
Hefner's soft porn empire merged with Mountain crest in a deal that valued Playboy at $381million, including $142million of debt.
Playboy is now trying to transform itself into a consumer products brand that sells sexual wellness products, clothing and gaming.
Playboy's famous bunny logo is being printed on lingerie, games and grooming products and is said to have $3bn in consumer spending across 180 countries, according to the BBC.
Hefner's Playboy mansion – which was the centre of the thriving business for years – was sold to Daren Metropoulos in 2016 for $100m on the condition Hefner could like there paying rent until he died.
In an agreement, it was said the 14,000 square foot, 29 room mansion was in need of "substantial renovations and repairs following a long period of deferred maintenance".
Mr Metropoulos had originally considered bulldozing the house, but instead decided renovate the famous estate.
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The main structure is still standing but everything around it looks like it has been turned upside down.
All around the house the grounds have been ripped up and earth movers can be seen working to clear the site.
The front lawn has now been turned into a car park, while the grotto appears to still be in disrepair.
The pool sits empty and the roof of the house appears to be being completely rebuilt.
After taking ownership, Mr Metropoulos said: "I’m extremely passionate about its architecture and look forward to this momentous opportunity to transform one of the finest estates in the country.
"As Mr. Hefner was aware, I plan to meticulously refurbish the property with the highest quality and standards in mind."
When did Hugh Hefner start Playboy?
Hefner founded Playboy magazine in 1953 and the company's first magazine in December that year featured Marilyn Monroe on the cover.
Its well-written articles and unabashed embrace of the philosophy of hedonism made it a major influence during the sexual revolution of the 1960s, according to Britannica.
Hefner later expanded his business into nightclubs and other entertainment media.
Why did Playboy stop making magazines?
In March 2020, Playboy announced it would no longer be printing its quarterly magazine and was opting to go fully digital instead with plans to return to limited print runs in 2021.
In an open letter, Playboy's CEO, Ben Kohn, wrote: "We have decided that our Spring 2020 Issue, which arrives on U.S. newsstands and as a digital download this week, will be our final printed publication for the year in the U.S.
"We will move to a digital-first publishing schedule for all of our content including the Playboy Interview, 20Q, the Playboy Advisor and of course our Playmate pictorials.
"In 2021, alongside our digital content offerings and new consumer product launches, we will bring back fresh and innovative printed offerings in a variety of new forms–through special editions, partnerships with the most provocative creators, timely collections and much more.
"Print is how we began and print will always be a part of who we are."
The BBC reports that Playboy decided to cease its print operations because it was unable to keep up with competitors, who had harnessed online business models.
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