Cooper Hefner offers $100 million to buy Playboy, aiming to restore brand to its roots

Cooper Hefner has made a $100 million bid to buy Playboy, aiming to restore the brand to its roots.

Cooper Hefner, son of the late Playboy founder Hugh Hefner, has made a $100 million all-cash offer to purchase the Playboy brand.

In an exclusive statement to PEOPLE, Cooper expressed his desire to "restore the brand to its roots," emphasizing the personal significance of the acquisition. "The opportunity to acquire Playboy is deeply personal for me. This brand is woven into my family’s legacy, and I’ve seen firsthand its cultural impact over the decades," he said.

Playboy, founded by Hugh Hefner in 1953, has grown into an iconic global brand over the past six decades. Cooper, who previously served as the chief of global partnerships at Playboy Enterprises, left the company in 2019 to launch his own media venture, Hefner Media Corporation. Now, he aims to acquire Playboy’s intellectual property and brand assets from its publicly traded parent company, PLBY Group.

Cooper’s bid comes as the company prepares to relaunch Playboy magazine in February 2025, shifting back to its classic format. "Playboy represents more than just a business — it’s a platform for creativity, freedom of expression, and storytelling," Cooper explained. He also added, "Our main objective right now is to collaboratively work with the current stakeholders of the business and brand to identify an outcome that works for all."

Playboy became a publicly traded company in 2021 and shuttered its magazine during the COVID-19 pandemic. The magazine’s upcoming relaunch will feature the iconic Playboy Interview, celebrity pictorials, and the Playmate Centerfold.