FriendFinder CEO Marc Bell looking to buy Playboy
October 29th, 2010 - 11:25 pm ICT by Aishwarya BhattNew York, Oct 29 (THAINDIAN NEWS) The owner and CEO of FriendFinder Networks Inc has indicated that his company is looking to “raise capital to grow the business” but failed to mention which part of the business they are looking to improve. Marc Bell however made it clear that his company was preparing “three new initiatives”.
It is believed that the company that recently completed $551 million round of financing might still have their eyes still set on the Playboy Enterprises. The company has made prior attempt to take over the company but the offer was rejected because the owner Hugh Hefner said the franchise was not for sale. The attempt was made after Mr. Hefner tried to buy the company back from the shareholders in July this year. He offered the shareholders $185 million but that amount was bettered to $210 million by Marc Bell.
If the board, which is reviewing the offer from Mr. Hefner, accepts his deal, he will take the company private again. However it is not clear if the committee is also considering the offer made by Marc Bell as well.
FriendFinder Inc is involved in the online dating service and it owns some 30,000 websites. Most of those websites are involved with the online matching business.
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Tags: ceo, franchise, friendfinder, hugh hefner, initiatives, marc bell, networks inc, online dating service, playboy enterprises, shareholders
