Penthouse Owner Submits $210M Playboy Bid

Hugh Hefner hopes to take Playboy private, but his chances of doing so may be falling apart: on Thursday FriendFinder Networks, the owner of Penthouse magazine, put in a $210 million offer—$25 million more than Hefner's bid—for the iconic, albeit struggling, company. “We are very excited about the prospect for the combination of Playboy Enterprises and FriendFinder Networks,” Marc Bell, FriendFinder’s owner, said in a statement. “We look forward to Mr. Hefner and other key members of management being an integral part of the combined companies.” Bell also noted that, in the event of a buyout, Hefner would retain editorial control of the magazine and keep his famous L.A. mansion. Earlier this week, though, Hefner had different ideas about FriendFinder's impending offer: “Penthouse is just looking for publicity,” he wrote on Twitter. “They're not in the picture.”