Hugh Hefner's son wants to buy Playboy for $100 million

Core Viewpoint - Cooper Hefner, the youngest son of Hugh Hefner, is proposing to buy back the Playboy brand for $100 million, aiming to restore it to family ownership after over seven decades since its founding [1][2]. Company Overview - Playboy Group's stock was valued at less than $1 per share recently, a significant decline from its peak of $50 per share in spring 2021, resulting in a market valuation of approximately $50 million [3]. - The company went public in 2021 through a special acquisition company but has been facing financial difficulties, including over $200 million in debt [3]. Management and Operations - Cooper Hefner plans to lead the new entity as CEO, with his investment group, which includes a hedge fund and a former licensing partner, acquiring a 10% ownership stake in the Hefner-run Playboy [2]. - Hefner criticized the current management for leading the brand to a state of "potentially nonexistence," indicating that the brand has been mismanaged and has ventured into unfamiliar business areas that do not resonate with consumers [5]. Historical Context - Playboy magazine ceased publication in 2020, ending a nearly 70-year run that began in 1953, with a peak monthly circulation of 7 million in the 1970s [4]. - The brand's decline is attributed to shrinking advertising revenues and the rise of readily available online pornography, which diminished its relevance in the 21st century [5].