The Bunnies are coming home to roost.  At 84 years old, Hugh M. Hefner is busier than most men half his age, or even a quarter of his age.  Hef, recently engaged to a 24-year-old Bunny named Crystal Harris, is taking back what he started in 1953.  Hugh Hefner is buying back Playboy Enterprises and taking the company private once more.  Well, that’s one way to get around concerns about the price of stock and declining revenues!

Hefner’s Icon Acquisition Holding L.P. is partnering with Rizvi Traverse Management LLC to orchestrate the stock buy-back.  Playboy Enterprises is $115 million in debt; the $6.15 per share of outstanding stock values Playboy at $207 million.  Hefner personally owns about 70 percent of Playboy’s Class A common stock and 28 percent of its Class B stock; this stock will be included in the buy-back deal.

Basically, Hef is simply swapping his stocks from his person to his holding company.  This way, if Playboy ends up going under, Hef is still left with money enough to maintain his decadent lifestyle and continue supporting the Hollywood sign.

Tags: Hugh Hefner, Playboy, Playboy Enterprises, Hefner to buy back Playboy, Hefner to take Playboy private, Hefner to buy back Playboy stock, Icon Acquisition Holdings L.P., Rizvi Traverse Management LLC, .15 per share for Playboy stock, Hefner buying Playboy, Hefner’s Icon Acquisition Holding to buy up Playboy

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