Hugh Hefner Searching for TV, Web Partners to Revive Playboy
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Hugh Hefner, the Playboy Enterprises Inc. founder who is taking the company private, is looking for new business partners to help him develop and rebuild his slumping television and Internet businesses.
Playboy, based in Chicago, agreed to be bought this week by Hefner, 84, in a deal valued at $207 million. As a private company, it will be easier for Playboy to restructure and work with others in reviving the operations, Chief Executive Officer Scott Flanders said. New areas the company is considering include 3-D programming, he said.