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LOS ANGELES — A partnership led by Hugh Hefner has succeeded in taking Playboy private. Playboy Enterprises said Friday that its acquisition by Hefner’s Icon Acquisition Holdings has closed.
The $6.15-a-share deal was funded with $195 million of debt and $185 million from the private investment firm Rizvi Traverse and Playboy management, including Hefner. Rizvi Trav erse will own about 60 percent of the company. Hefner will own about 37 percent; other executive management will have the remaining 3 percent.
Hefner, 84, remains editor-in-chief and chief creative officer of the magazine he launched in 1953. It has struggled financially as adult content on the Internet has proliferated.
