Hugh Hefner offers to take Playboy private

FILE - In this Sept. 24, 2008 file photo, Hugh Hefner arrives at the Fox Reality Channel Really Awards in Los Angeles. (AP Photo/Matt Sayles, file) (AP)

July 12, 2010 7:06:09 AM PDT
Playboy Enterprises Inc. said Monday that its iconic founder is offering to buy the remaining shares of the media empire, taking the company private, in a deal that values the company at $185 million.