Playboy Inc. has confirmed reports that Hugh Hefner offering to buy the organization at a value of $5.50 per share and a premium price of $1.56, which makes the total estimated value of the company at $185 million based on the 33 million share stocks of the company.

Heffner had founded the organization in 1953 with the help of Rizvi Traverse Management LLC .  Heffner has made it clear that he is not interested in any kind of discussions with a third party regarding the deal, or in any form of mergers or acquisitions with any other partner.  In short, he is looking for complete ownership of the firm.

Heffner currently owns 3.4 million shares in the A class category and 7.9 million in the Class B category, according to the annual reports of the company. Following the news, the price of Playboy has soared more than 35% in the market.

Currently, the company is undergoing heavy cost cutting measures to restructure its foundations and image as a brand company in the field. However, any concrete news about the deesion of the Hefner proposal has  not been delivered.