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-   -   FriendFinder Sets Playboy Bid at $210M (https://gfy.com/showthread.php?t=978164)

Barefootsies 07-15-2010 10:24 AM
FriendFinder Sets Playboy Bid at $210M
 
Quote:
BOCA RATON, Fla. — FriendFinder Networks Inc. said Thursday it is planning to buy Playboy Enterprises Inc. for $210 million.

The company has retained Imperial Capital LLC as financial advisor in connection with its proposal to acquire Playboy.

FriendFinder's bid for Playboy comes days after Hugh Hefner revealed a $5.50-a-share offer to take the company he founded private. Hefner owns about 70 percent of Playboy’s Class A shares and 28 percent of its Class B stock.

FriendFinder Marc Bell, who made today's announcement on CNBC in an interview, said Hefner’s bid “dramatically” undervalues Playboy. FriendFinder's bid represents a $25 million premium over Hefner's offer.

FriendFinder has asked to meet with Playboy's board on July 21.

"We would propose an arrangement where we would partner with Mr. Hefner in our efforts to drive shareholder value," the company said in a statement. "We envision that following the completion of the proposed transaction, Mr. Hefner would retain editorial control of Playboy Magazine and would be entitled to reside in the Playboy Mansion.

"We would expect continuity of senior management through completion of the transactions contemplated by this proposal, and we are open to participation by continuing members of senior management on a going forward basis.

"We believe that together we can create a 21st century media powerhouse and generate tremendous synergies through the combination of Playboy’s iconic brands and licensing engine with the Penthouse brands and the demonstrated technological innovations of FriendFinder Networks."

Imperial Capital, founded in 1997 and led by co-founder Jason Reese, is an investment banking firm with offices in Century City, Calif., New York, San Francisco, Boston, Houston and Minneapolis.

Hefner’s proposed deal to buy all the outstanding shares he doesn’t already own would be financed by Rizvi Traverse Management LLC.
http://www.xbiz.com/news/122880
:pimp

KillerK 07-15-2010 10:26 AM
They better reject the offer.

Wizzo 07-15-2010 10:28 AM
AFF on the move! :pimp

DatingGold 07-15-2010 10:29 AM
"dramatically" undervalues Playboy and he only offers 12% more LOL. I think its a publicity stunt.

I dont get why you would want to own Playboy and Penthouse anyways.. makes no sense.

jigg 07-15-2010 10:29 AM
AFF is in Boca? That's like 2 spits from my door!

Barefootsies 07-15-2010 10:52 AM
Legendary Lars is on da case

jackknoff 07-15-2010 10:53 AM
Playboy for 210 mil? That doesn't sound right at all, they're worth a hell of alot more than that. Something is amiss here...


Spanx!
Jack

Semi-Retired-Dave 07-15-2010 11:00 AM
Quote:
Originally Posted by DatingGold (Post 17337508)
"dramatically" undervalues Playboy and he only offers 12% more LOL. I think its a publicity stunt.

I dont get why you would want to own Playboy and Penthouse anyways.. makes no sense.
Maybe so you can have Full Control of GFY.

http://jcwinnie.biz/wordpress/imageSnag/Dr_Evil.jpg

robertSIYC 07-15-2010 11:06 AM
I dont see it happening to be honest

WiredGuy 07-15-2010 11:09 AM
Is FFN in any position to make a buyout offer of $210MM when they have over $400MM in debt? I can't see them being able to borrow that kind of money to be honest.
WG

Chosen 07-15-2010 11:17 AM
Quote:
Originally Posted by jigg (Post 17337511)
AFF is in Boca? That's like 2 spits from my door!
You're going to visit them? :)

martinsc 07-15-2010 11:19 AM
http://www.threadbombing.com/data/me...pJcRo1_500.jpg

D Ghost 07-15-2010 11:20 AM
Quote:
Originally Posted by jigg (Post 17337511)
AFF is in Boca? That's like 2 spits from my door!
FFN (AFF) is in Sunnyvale, California... near San Francisco.

Barefootsies 07-15-2010 11:28 AM
Quote:
Originally Posted by DatingGold (Post 17337508)
I dont get why you would want to own Playboy and Penthouse anyways.. makes no sense.
Brand name.
:2 cents:

BAKO 07-15-2010 11:29 AM
Go AFF :) one of the best sponsors of all time

JFK 07-15-2010 11:31 AM
Quote:
Originally Posted by WiredGuy (Post 17337610)
Is FFN in any position to make a buyout offer of $210MM when they have over $400MM in debt? I can't see them being able to borrow that kind of money to be honest.
WG
when you owe that kind of money, people toss you more ;)

Gerco 07-15-2010 11:31 AM
Quote:
Originally Posted by martinsc (Post 17337644)
Chapter 1... Turn the fucking thing on...

Barefootsies 07-15-2010 12:04 PM
Quote:
Originally Posted by Gerco (Post 17337711)
Chapter 1... Turn the fucking thing on...
HOWLING LAUGHTA!

Good tip.
:winkwink:

GTS Mark 07-15-2010 12:11 PM
Go AFF Go! :)

seeandsee 07-15-2010 12:12 PM
Legendary offer! We will see what will be!

fris 07-15-2010 12:12 PM
hes not selling.

Quote:

Bell said his offer would give Hefner editorial control of Playboy magazine and entitle him to keep up his residence in the Playboy Mansion, a sprawling estate the company owns in Los Angeles, which are both conditions of Hefner’s partnership with Rizvi.

But Hefner has shown no indication he would be willing to abandon Rizvi. In his own letter to Playboy’s board, which became public Monday, Hefner said he has no intention of partnering with anyone but Rizvi and is not interested in selling his shares to a third party.

Hefner said he supported Playboy’s management and that he invited any of his executives to join his bid if they see fit. On Tuesday, he reiterated his reluctance to sell in a Twitter post: “Playboy isn’t in play,” the post said. “I’m buying not selling.”

RyuLion 07-15-2010 12:15 PM
Good Luck to both parties..2cents.

bloggerz 07-15-2010 12:25 PM
i wouldnt be surprised if it sells :2 cents:

Mr Pheer 07-15-2010 12:29 PM
Quote:
Originally Posted by DatingGold (Post 17337508)
I dont get why you would want to own Playboy and Penthouse anyways.. makes no sense.
Makes perfect sense. Playboy + Penthouse + AFF = Huge IPO

fris 07-15-2010 12:33 PM
Quote:
Originally Posted by bloggerz (Post 17337921)
i wouldnt be surprised if it sells :2 cents:
too bad it isnt for sale

jabula 07-15-2010 12:59 PM
Good luck AFF :thumbsup

poncabare 07-15-2010 01:32 PM
Quote:
Originally Posted by DJ The Kid (Post 17337646)
FFN (AFF) is in Sunnyvale, California... near San Francisco.

Boca is the headquarters, http://ffn.com/about/contact

pradaboy 07-15-2010 01:49 PM
$210m for Playboy seems cheap.

GotGauge 07-15-2010 02:09 PM
Quote:
Originally Posted by pradaboy (Post 17338202)
$210m for Playboy seems cheap.
It is more than Hugh Hefner offered to take it back private! Hugh offered $185 Million!

'Hugh Hefner announced he wanted to buy the remaining shares of the iconic bunny brand and take the company private. Hefner already owns 69.5% of Playboy's class A stock and 27.7% of its class B stock.

After he announced he wanted to buy the outstanding shares for $5.50 each on Monday morning, the stock surged 41%. That deal would value Playboy at $185 million"


http://money.cnn.com/2010/07/15/news...yboy/index.htm

woj 07-15-2010 02:18 PM
I thought FF is broke? Aren't both playboy and FF losing money?

Barefootsies 07-15-2010 04:22 PM
Quote:
Originally Posted by GotGauge (Post 17338275)
It is more than Hugh Hefner offered to take it back private! Hugh offered $185 Million!

'Hugh Hefner announced he wanted to buy the remaining shares of the iconic bunny brand and take the company private. Hefner already owns 69.5% of Playboy's class A stock and 27.7% of its class B stock.

After he announced he wanted to buy the outstanding shares for $5.50 each on Monday morning, the stock surged 41%. That deal would value Playboy at $185 million"


http://money.cnn.com/2010/07/15/news...yboy/index.htm
If he can come up wit dat cash.

colin farrell 07-15-2010 04:24 PM
"We believe that together we can create a 21st century media powerhouse ."

LOL.

I haven't seen a penhouse on a shelf for 10 years. their readership sucks.

Barefootsies 07-15-2010 04:34 PM
Quote:
Originally Posted by colin farrell (Post 17338629)
"We believe that together we can create a 21st century media powerhouse ."

LOL.

I haven't seen a penhouse on a shelf for 10 years. their readership sucks.
Completely agree. I can't think of the last time I have SEEN a Penthouse.

GotGauge 07-15-2010 04:51 PM
Quote:
Originally Posted by Barefootsies (Post 17338622)
If he can come up wit dat cash.
True, if I remember what I read, he was doing this with a partnership of another company or lending firm. Something like that!
PlayboyEscorts Money Maker!

topnotch, standup guy 07-15-2010 05:13 PM
Quote:
Originally Posted by BAKO (Post 17337699)
Go AFF :) one of the best sponsors of all time
Still the same asswipe you always were, eh?

Carry on.

NickB. 07-15-2010 06:00 PM
Quote:
Originally Posted by colin farrell (Post 17338629)
"We believe that together we can create a 21st century media powerhouse ."

LOL.

I haven't seen a penhouse on a shelf for 10 years. their readership sucks.
Agreed, I cant remember seeing a penthouse.... nor their site...

DateDoc 07-15-2010 06:04 PM
So Playboy is worth one good lotto ticket?

Randomonium 07-15-2010 06:10 PM
http://www.gordonbrothers.com/firm/n...les/090820.pdf

Old but relevant

TeenCat 07-15-2010 06:15 PM
oh fuck what? lol i say, i mean lol i hope ... price, name, penthouse ... come on ...

Brujah 07-15-2010 11:41 PM
http://twitter.com/hughhefner

@hughhefner Confusing news stories notwithstanding, I already have a financial partner & want to take Playboy private. I'm buying, not selling.


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