Hugh Hefner open to selling off ALL of Playboy and not just the iconic mansion

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Playboy Enterprises, the owner of Playboy magazine, is exploring a sale
Move comes after the storied magazine stopped publishing nude photos of women and put up the Playboy Mansion up for sale
The entire company could be valued at more than $500million
Last year, Playboy reportedly made $38million in revenue from media and $55million from licensing

By Zoe Szathmary For Dailymail.com and Reuters

Published: 00:09 EST, 25 March 2016 | Updated: 06:02 EST, 25 March 2016

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Playboy Enterprises, the owner of Playboy magazine, is exploring a sale.

The move comes after the storied magazine stopped publishing nude photos of women and put up the iconic Playboy Mansion up for sale.

The entire company could be valued at more than $500million, according to The Wall Street Journal.

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Playboy Enterprises, the owner of Playboy magazine, is exploring a sale. Playboy founder Hugh Hefner is seen with Sheila Levell (left) and Holly Madison (right) in this May 2003 photo

The move comes after the storied magazine stopped publishing nude photos of women and put up the iconic Playboy Mansion (pictured) up for sale

Playboy CEO Scott Flanders revealed the sale exploration to CNN Money.

Hugh Hefner, who founded Playboy in 1953, took the company private in 2011, along with private equity firm Rizvi Traverse Management, in a deal that valued the company at $207million.

'A sale [...] would include Playboy's web site, the magazine, the mansion, licensing deals, and various entertainment extensions,' CNN Money reported.

Last year, Playboy made $38million in revenue from media and $55million from licensing, according to the Wall Street Journal.

In February, the company stopped publishing nude photos, saying they had become outdated due to the plethora of free pornography on the internet.

Hugh Hefner, who founded Playboy in 1953, took the company private in 2011, along with private equity firm Rizvi Traverse Management, in a deal that valued the company at $207million

The company in January put up the Playboy Mansion in Los Angeles for sale for $200million, making it one of the highest asking prices for a private residence in the United States (1999 file photo)

Flanders told the New York Times in a story published in October 2015: 'That battle has been fought and won.

'You're now one click away from every sex act imaginable for free.

'And so it's just passé at this juncture.'

Hefner's son, 24-year-old Cooper, told Business Insider last month: 'I didn't agree with the decision because I felt as though millennials and Gen-Y didn't view nudity as the issue.

'The issue was the way in which nudity and the girls were portrayed.'

Circulation of Playboy, also known for its bunny ears, has dropped from about 5.6million in 1975 to around 800,000 in recent years.

In January the Playboy Mansion in Los Angeles was put up for sale for $200million, making it one of the highest asking prices for a private residence in the United States.

However as part of the sale the conditions are that Hefner must be able to spend the rest of his life at the mansion.