"With the completion of this transaction, Playboy will come full circle, returning to its roots as a private company."
That is what Hugh Hefner had to say about his recent bid to reclaim Playboy as a private company. According to Guardian.co.uk, Hefner "secured a deal worth $6.15 a share to regain control of Playboy
Enterprises, which encompasses the monthly magazine, plus
Playboy-branded TV and radio shows, casinos and merchandising. The 84-year-old Playboy founder owns almost 70% of the company's Class
A common stock and 28% of its Class B stock, but last year expressed
his desire to take the company private." "The brand resonates today as clearly as at any time in its 57-year
history. I believe this agreement will give us the resources and
flexibility to return Playboy to its unique position and to further
expand our business around the world", was part of what Hefner had to say about the recent major business deal. As the deal stands now, it is a welcome thing, since "the deal ends months of negotiations, which last summer threatened to
turn into a showdown between the two leading players in adult
entertainment, as Penthouse weighed in with a $210m bid for Hefner's
57-year-old publishing company." The company went public in 1971, and has been publically traded since, until this recent takeover by Hefner to bring the company back to what it once was.
What does this all mean? Well it means that Hefner, 84-years-old at the time of this writing, will have full control over his company, but for how long? At 84, I don't think he's at the stage of the game where he should be making huge decisions for the future of his giant company! Wouldn't it have been better if he had just accepted Penthouse's bid to acquire the faltering company?
Hefner, because of the way he has led his life, cannot be living in good health for much long. Even though he has just gotten engaged to 24-year-old Playmate Crystal Harris, which in itself is beyond comprehension (where does he get the energy? Thank God for Viagra...), he should really not be making major decisions to take back his company. In the long run, you never know how your children are going to handle something when you die. What happens if his heir apparent to the Playboy dynasty runs it into the ground?
I think it would have been better for him to just accept that he is too old to be making decisions like these, relinquished control to Penthouse, and spent the rest of his borrowed time with his soon-to-be-wife and live a life of relative financial ease and happiness. I'm not trying to be mean and call him a washed-up old coot (well, maybe I am), but I am simply trying to think of the best thing for the future of his company, and of his name. What if, before he goes to meet his maker, the company goes belly-up? Then he will be on the brink of death, not from old age, but because of the major stress of seeing ones baby (i.e. The Playboy Company) die!
I also feel that some of his personal issues have clouded his judgment. His has had a parade of young, blond girlfriends who have done nothing but leech off of him for years now, including The Girls Next Door, Holly Madison, Bridget Marquardt and Kendra Wilkinson as well as their replacements girlfriends Kristina and Karissa Shannon and Crystal Harris (Hef's new fiance), who all have a combined IQ of about 3 1/2 (and I'm being generous!) (To read my recent blog about Kendra's marital troubles, follow THIS link.)
He once was a shrewd businessman, but now, I fear, his talents have washed away. I am amazed by what he did in his lifetime, but I fear those good memories will be swept away and replaced by a dark future that involves no Playboy! Teenage boys all around the world would die of grief if Playboy ceased to be!