"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."
"Playboy has been a part of pop culture since 1953, when it made waves with its nude pictorials and high-profile interviews and reporting."
"After Hugh Hefner's death, the company changed hands several times and went public three years ago. Plans were recently announced to bring back the iconic magazine in a once-per-year format."
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