CHICAGO, March 5 (UPI) -- Publisher Hugh Hefner said Playboy Enterprises had turned over a new leaf, as a deal closed to return the Chicago-based business to private hands.
The $207 million deal that closed this week, "Marks the beginning of an exciting era for this company and our iconic brand," said Hefner, who will keep his position as editor-in-chief of Playboy Magazine, The Hollywood Reporter said Saturday.
The company was purchased by an investment group called Icon Acquisition Holdings for $6.15 per share.
Hefner had held a majority of the company while it was public, owning 69.5 percent of the firm's Class A stock and 27.7 percent of its Class B stock, the Reporter said.
Scott Flanders will stay on as chief executive officer.
Hefner said, "I believe this new ownership structure will allow us to further capitalize on the unique and global appeal of the Playboy brand, and I look forward to our business success."
|Additional Business News Stories|
BEIRUT, Lebanon, May 22 (UPI) --The seizure of Syrian oil fields by the al-Nusra Front could accelerate the breakup of Syria amid a reshaping of the Middle East's geopolitical landscape.
OTTAWA, May 22 (UPI) --Canadian Prime Minister Stephen Harper faces more embarrassing questions as new evidence suggests the nation's strategy for building a strong arctic naval force is out of control.