Short recap: last year, Hefner offered to buy all the outstanding shares of Playboy for about $185 million. That opened the door for someone else to beat his offer—which the owner of rival Penthouse did, offering about $210 million. Argh! Hef in peril! Would he have to sell off the Playboy mansion just to stay in the game?
Haha, no, because he still controls the company, so he just bumped up his own offer to $6.15 a share, which is still less than the Penhouse offer, but hey, close enough. So now Hugh Hefner can live out the remainder of his days as the king of Playboy, having group sex with well-compensated bottle blondes in his palace of poop.
Playboy's still a shitty business, but the perks aren't bad.