Hugh Hefner recently announced that the Playboy Mansion was up for sale, and now the company has extended that sale to include the entire corporation.
The search for a buyer was announced on Thursday by Playboy CEO Scott Flanders.
Flanders said in a phone call Thursday that the sale of the company “arose out of the interest in the sale of the mansion.”
In January, the company put the Playboy Mansion up for sale for $200 million. But according to the sale terms, the elderly founder of the magazine Hugh Hefner must be allowed to live at the mansion for the rest of his life.
Playboy began engaging with investment firm Moelis & Company for the original sale.
“Previously we engaged them in the fall to grow the media business and to separately list the mansion,” Flanders said. “And as part of that they had inquiries as to whether the company could be sold. And several well funded entities have expressed interest.”
Both domestic and international buyers are reportedly eyeing the company for a takeover.
While Playboy Magazine featured a circulation of 5 million at its height, those numbers have fallen to 800,000. The actual magazine brand loses money but serves as an “ambassador for the brand,” according to Flanders.
The publication is no longer featuring nude models.