Playboy founder Hugh Hefner's son offers $100M cash to buy back iconic brand, pledges to 'restore its legacy'

Hugh Hefner‘s son, Cooper Hefner, is seeking ownership of his late father’s iconic brand, Playboy, with a $100 million cash bid. 

In a statement to Fox News Digital, Cooper, 33, said he's looking to "restore" the legacy of the brand – which became a publicly traded company in 2020 – and "innovate and expand it for new generations."

"Playboy is more than a brand – it’s an American staple that has been part of the fabric of our culture for over 70 years," Cooper told Fox News Digital in a statement. "The company has always represented freedom of expression, individuality, and storied entertainment. Our family believed in building something larger than a magazine; the company grew into a cultural movement, a lifestyle, and a platform for ideas that challenged norms and redefined what it means to live freely and unapologetically."

PLAYBOY MODEL CRYSTAL HEFNER ADMITS SHE WAS NEVER 'IN LOVE' WITH LATE HUSBAND HUGH HEFNER

Hugh Hefner's son, Cooper, is seeking ownership over his late father's iconic Playboy brand. (Getty Images)

"I grew up witnessing the impact Playboy had on people's lives – from inspiring the pursuit of play to sparking conversations about equality and civil rights, to celebrating art, humor, and human sexuality without shame," he continued. "This brand has been a beacon for change, and now it has the opportunity to be one again."

Cooper said the investment opportunity could not be more "clear."

"With the right leadership and vision, Playboy is poised for a resurgence," he stated. "We’ve identified the steps needed not only to restore its legacy but also to innovate and expand it for new generations, tapping into evolving markets, cultural standards, and platforms. We are committed to driving Playboy forward, blending its heritage with fresh relevance to create long-term value for all stakeholders."

"We look forward to working collaboratively with Playboy’s current parent company, PLBY Group, to define an outcome that works for all stakeholders – elevating Playboy to new heights, honoring its heritage, and shaping a bold future through experiences, entertainment, and products."

Cooper, pictured with Hugh and his wife Crystal Hefner, says he's looking forward to restoring the legacy. (Getty Images)

In 1953, a 27-year-old Hugh – who was working at Esquire magazine in Chicago at the time – used $600 of his own money and $8,000 from investors to kick-start what would become a cultural phenomenon and publishing revolution.  

"My mother didn't believe in the magazine, but she believed in her son," Hugh, whose mother contributed to the investment, told FOX News at the Playboy 50th anniversary party in New York City in 2003. "We publish a very good magazine, and we were the first people to ever do it," he said. "A magazine for single guys started with Playboy, and the miracle for me is that it's still alive and hot for young men and women too."

PLAYBOY PLAYMATE SAYS HUGH HEFNER WAS QUIET AND ENJOYED BOARD GAMES, DISPUTES CLAIMS MANSION WAS ‘CULT-LIKE’

The first issue of Playboy was published that same year and featured a nude centerfold of Marilyn Monroe – which went on to sell more than 50,000 copies. From there, Playboy quickly began to dominate pop culture, while building its empire with lavish parties at the infamous Playboy Mansion, exclusive celebrity access and, most of all, sexual liberation. 

Hefner published the first Playboy issue in 1953. (Getty Images)

At one point, the brand circulated seven million magazines per month – which allowed Hugh to own and operate a string of exclusive Playboy clubs around Los Angeles.

"What I tried to create was a magazine for the indoor guy but would focus specifically on the single life – in other words, the period of bachelorhood before you settle down. And that magazine or that concept for a magazine was a revelation," Hugh told NPR in 2017. 

The years following, Playboy would feature in-depth interviews with various public figures and jaw-dropping photos of celebrities such as Madonna, Brooke Burke, Elle MacPherson, Sophia Loren, Pamela Anderson and more. 

HOLLY MADISON TALKS PLAYBOY MURDERS, LEAVING HUGH HEFNER: 'I FELT EMOTIONALLY SHELL-SHOCKED'

"You could say I owe my career to Hef," Anderson told the crowd during the 50th anniversary party in 2003. 

Hefner's Playboy pushed the boundaries of sexual liberation. (Getty Images)

Simply put, the brand became a groundbreaking force that reshaped ideas surrounding freedom of expression while pushing the boundaries of sexual liberation. 

But behind the brand's mega success, Playboy and Hugh – who died in 2017 – often faced waves of controversy, including allegations of abuse made by former girlfriends and Playmates. 

LIKE WHAT YOU’RE READING? CLICK HERE FOR MORE ENTERTAINMENT NEWS

In 2016, former Playmate and Hugh's girlfriend, Holly Madison wrote a memoir, "Down the Rabbit Hole," where she alleged years of verbal and emotional abuse during her time at the Playboy Mansion. Then in late 2021, she described her "traumatic" first sexual encounter with Hugh in the podcast "Power: Hugh Hefner." And in early 2022, she sat down for A&E’s "The Secrets of Playboy," where she alleged the mansion was "cult-like."

"It was a lot of control," Madison told Fox News Digital earlier this year about living at the Playboy Mansion. "A lot of being made to feel insecure, a lot of being put down. But… you don’t want to be kicked out, and you don’t want to p--- anybody off. I feel like even people who were going to parties at the mansion felt like they knew Hef… [but] they didn’t necessarily see that side."

Hugh, pictured with ex-girlfriend, Holly Madison, faced waves of controversies throughout his career. (Denise Truscello/WireImage)

HOLLY MADISON DETAILS ‘TRAUMATIC’ FIRST NIGHT SLEEPING WITH HUGH HEFNER: HE ‘WAS PUSHED ON TOP OF ME’

Hugh's widow, Crystal Hefner – who was married to the Playboy founder for nearly five years before his death – also claimed Hugh was "emotionally abusive."

"Hef was a very complex person. He wasn’t all good, and he wasn’t all evil. He wasn’t a predator," she told Fox News Digital in January, while promoting her memoir, "Only Say Good Things: Surviving Playboy and Finding Myself." "But, at the same time, he was also narcissistic and was a misogynist, and we have to be honest about that moving forward."

Though Playboy didn't immediately respond to Fox News Digital’s request for comment about Crystal's book at the time, a spokesperson issued a statement at the time of A&E’s 2022 docuseries.

Hugh and Crystal Hefner were married for nearly five years before his death. (Getty Images)

"Today’s Playboy is not Hugh Hefner’s Playboy," the statement said. "We trust and validate these women and their stories, and we strongly support those individuals who have come forward to share their experiences. As a brand with sex positivity at its core, we believe safety, security and accountability are paramount."

CLICK HERE TO SIGN UP FOR THE ENTERTAINMENT NEWSLETTER

"The most important thing we can do right now is actively listen and learn from their experiences," the spokesperson added. "We will never be afraid to confront the parts of our legacy as a company that do not reflect our values today."

"As an organization with a more than 80% female workforce, we are committed to our ongoing evolution as a company and to driving positive change for our communities."

Hefner died in 2017. (Getty Images)

In 2020, Playboy suspended and eventually ceased production of the print edition due to issues during the coronavirus pandemic. It became a publicly traded company later that same year. 

In 2021, PLBY Group announced its plans to relaunch the magazine in February 2025.

"The new ‘Playboy’ magazine will feature everything that made the publication iconic: unforgettable photography, renowned features such as the Playboy Interview and Playboy Advisor, celebrity pictorials, and the Playmate Centerfold, which has been a central component of 'Playboy' since its inception," the company said in a press release.

"In conjunction with the magazine, the revival of Playboy's legendary Playmate franchise will also make its comeback with a worldwide search for the 2024 and 2025 Playmate of the Year and a new class of Playboy Bunnies, who will represent the brand at exclusive events and experiences throughout the year."

In 2020, Playboy suspended and eventually ceased production of the print edition due to issues during the coronavirus pandemic. (HMH Foundation)

Now, Cooper is making the bid of a lifetime – an offer that could prove to be a "game-changing moment" for Playboy, according to brand experts. 

"Cooper’s attempt to reacquire the company signifies more than just a financial transaction – it represents a pivotal opportunity to reconcile the legacy with the future. Playboy, as a publicly traded entity, has become more about revenue streams than the philosophy of its founder," Marvet Britto, global brand strategist/president and founder of The Britto Agency, told Fox News Digital. "If Cooper succeeds, this could be a game-changing moment that restores the soul of the brand, reconnecting it with the cultural narrative and aspirational lifestyle Hugh Hefner championed."

Britto said Playboy has the potential to become "more than just a brand but a cultural force once again," if Cooper's bid is accepted. 

WATCH: PLAYBOY MODEL, HUGH HEFNER'S 'RUNAWAY BRIDE' TELLS ALL IN MEMOIR

Video

"With the right strategy, it can transcend the dated perceptions and reclaim its place as a lifestyle brand that embodies sophistication, pleasure, and bold expression," he said. "This is an opportunity to return the Playboy identity to the forefront of global conversations – not as an artifact of the past, but as an evolving symbol of personal expression and freedom, modern luxury, and provocative thought leadership. The future holds immense promise, but only if the brand is willing to evolve with intention, deliberate inclusion, authenticity, and a fearless new vision."

Laura Betterly, founder, Yada Yada Marketing, said in order to see success, Cooper should "embrace the modern consumer landscape."

"While his father’s vision was groundbreaking in the 1950s, today’s audiences value inclusivity, body positivity, and authenticity," Betterly told Fox News Digital. "Cooper should keep the essence of creativity and freedom of expression alive, but do so in a way that resonates with how people consume content now – through social media, streaming platforms, and experiential brand interactions."

"In addition, merchandising remains a huge strength," she added. "The Playboy logo is iconic, and products in fashion, sexual wellness, and lifestyle categories are still in demand. If Cooper can combine this merchandising strength with a robust digital strategy, he can build a modern legacy that honors his father while appealing to younger generations."

CLICK HERE TO GET THE FOX NEWS APP

Fox News Digital's Stephanie Nolasco contributed to this report.