RadioOnFire.com - According to The Blast, the Hefner family no longer owns any stake in the Playboy empire after selling the family's final shares for $35 million. The deal was struck with Icon Acquisition Holdings LLC and broken into two separate parts. On one end, Icon Acquisitions agreed to pay $15 million to the family for 800,000 shares while the remaining one million shares will be put in escrow as Playboy pays through a $20 million loan.
The money is to be divvied up between Hugh Hefner's children and his widow, Crystal. One of Hefner's sons will continue to work for the company despite not having any ownership stake.
Source: theblast.com
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