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Friday, February 11, 2011

Playboy Mansion not as cheap as Hefner says - suit, (NYSE: PLA)

So how much is Hugh Hefner's iconic Playboy Mansion really worth? The issue has arisen in a lawsuit accusing the 84-year-old media mogul of trying to take Playboy Enterprises Inc (PLA.N), the publisher known for nude centerfolds, private in a sweetheart deal at other shareholders' expense. In an amended complaint filed Feb. 4 in Delaware Chancery Court, shareholders complained that an October 2010 appraisal valued the 29-room Los Angeles mansion at $54 million, 45 times higher than the $1.2 million shown on Playboy's books.