Cooper Hefner Offers $100 Million to Buy Playboy, Rejected as 'Substantially Undervalued' by PLBY Group

Oct 24, 2024, 01:04 PM

Cooper Hefner, the youngest son of late Playboy founder Hugh Hefner, has made an offer to buy back the Playboy brand for $100 million. This bid comes at a time when the company has not had a Hefner in charge since 2017. However, the current owner, PLBY Group, has rejected this unsolicited offer, stating that it 'substantially undervalues' the assets of the iconic adult entertainment franchise. The rejection highlights ongoing challenges in the adult entertainment sector, where Playboy's valuation was estimated at $2 billion in 2021, significantly higher than Hefner's proposed buyout price.