Hefner To Sell Playboy To Branson?
Porn mogul HUGH HEFNER is reportedly lining up British billionaire SIR RICHARD BRANSON to take over his Playboy empire.
Hefner's company - founded 56 years ago - is battling the recession and the rise in internet pornography, with the firm recently posting losses of $13 million (£8.6 million) for the first three months of 2009.
Sources suggest the 83-year-old is thinking of retiring and courting Virgin boss Branson as a potential buyer - with a price-tag set at $300 million (£200 million).
A Playboy spokesperson denies any offers have been made, but admits Hefner would "listen to proposals that could create value for all of our shareholders".