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Penthouse Owner to Battle Hefner for Playboy Control

FriendFinder Networks Inc., owner of Penthouse adult magazine, plans to submit a bid for Playboy Enterprises Inc., following a $123 million offer from Playboy founder Hugh Hefner.

FriendFinder Chief Executive Officer Marc Bell said in an interview the company is “looking at alternatives” and later wrote in an e-mail it will probably make the bid today.