Report: Hugh Hefner's estate is selling ownership of Playboy

Playboy Magazine's 2013 Playmate of the Year ceremony held at the Playboy Mansion. Featuring: Crystal Hefner, Hugh Hefner, Cooper Hefner Where: Holmy Hills, California, United States When: 09 May 2013 Credit: FayesVision/

New documents filed by Hugh Hefner's estate claim a trustee is looking to figure out the worth of his Playboy empire with the goal of selling it, according to The Blast.

The celebrity news site spoke with the attorney for Hefner's estate, who said while the mogul left the brand in good hands, "it's time for us to close that chapter and focus the future on Hef's charitable vision."

Before his death in September, The Blast reports Hefner owned 33.8 percent equity interest in Playboy, and stipulated any sale had to happen within 90 days of his death.

That deadline is December 26.

Sources tell The Blast his estate is worth millions, leaving a hefty estate tax that has to be paid before dividing the money between his beneficiaries.

His kids will still keep their jobs in the company, but the news site reports they won't have ownership in the company if his interest in the company is sold - which could cause a restructuring of the company.

close video ad
Unmutetoggle ad audio on off