Playboy Rejects Cooper Hefner's $100M Buyout Offer

The PLBY Group board unanimously deemed the bid from Hugh Hefner's son as undervaluing the iconic brand's assets.

Cooper Hefner, son of Playboy founder Hugh Hefner, proposed a $100 million cash offer with an additional 10% equity stake in a new entity.
The board of PLBY Group believes continuing with its current asset-light strategy will yield better long-term value for shareholders.
Playboy's stock dropped over 5% following the rejection, reducing its market capitalization to under $60 million.
Cooper Hefner criticized the current management for leading the brand towards irrelevance and expressed a personal desire to revitalize it.
Despite rejecting the offer, PLBY Group remains open to evaluating future opportunities for the Playboy brand.