Hugh Hefner's son makes bid for Playboy assets

The son of late Playboy founder Hugh Hefner has made an offer for a portion of the company.

Cooper Hefner submitted a $100 million bid for the intellectual property and brand assets of Playboy Enterprises from publicly traded parent company PLBY Group.

“The decision to acquire Playboy’s assets stems from a personal connection and the unique potential to reinvigorate a brand cared for around the world,” Hefner told The Hollywood Reporter. “This effort is about safeguarding a legacy built over decades, ensuring that the creativity, values and cultural relevance that defined Playboy are not lost.”

Read more from The Hollywood Reporter.