http://www.digitaljournal.com/news/world/playboy-mansion-sold-to-twinkies-chief/article/467179

Playboy Mansion sold to Twinkies chief

Posted Jun 6, 2016 by AFP
The Playboy Mansion, the legendary party house where Hollywood's elite cavorted with scantily-clad "bunnies," is being sold to the billionaire Twinkies owner who lives next door, a spokesman said Monday.
Despite the sale of the Playboy Mansion to billionaire Twinkies owner Daren Metropoulos  Hugh Hefner...
Despite the sale of the Playboy Mansion to billionaire Twinkies owner Daren Metropoulos, Hugh Hefner, 90, will continue living in the Holmby Hills estate for the rest of his life
Frederic J Brown, AFP/File

The Playboy Mansion, the legendary party house where Hollywood's elite cavorted with scantily-clad "bunnies," is being sold to the billionaire Twinkies owner who lives next door, a spokesman said Monday.

Hugh Hefner, the 90-year-old owner of the Holmby Hills estate in southern California and founder of Playboy Magazine, will be permitted to continue living there for the rest of his life.

The buyer is Daren Metropoulos, a 32-year-old business tycoon who lives on the property next door to the mansion, which he bought from Hefner in 2009 for $18 million.

"We can confirm that the Playboy Mansion is in escrow with Daren Metropoulos as the buyer," a Playboy spokesman told AFP.

"Due to confidentiality restrictions, we are not able to comment on any specifics, including what contingencies need to be cleared to close the sale."

Metropoulos is a principal at private-equity firm Metropoulos and Co., which co-owns Hostess Brands, the maker of Twinkies, an iconic American snack.

Playboy founder Hugh Hefner poses with the 2016 Playmate of the Year Eugena Washington at the Playbo...
Playboy founder Hugh Hefner poses with the 2016 Playmate of the Year Eugena Washington at the Playboy Mansion on May 11, 2016 in Los Angeles, California
Charley Gallay, Getty/AFP/File

He intends to connect the two estates into a combined 7.3-acre compound once Hefner dies, according to the Wall Street Journal.

The paper quoted Metropoulos as saying the mansion's heritage "transcends its celebrity" and that "to have the opportunity to serve as its steward would be a true privilege."

He declined to disclose the purchase price, although the estate was valued at $200 million when Playboy Enterprises put it up for sale earlier this year.

Built in 1927 and bought by Hefner for $1 million in 1971, the property was emblematic of Hollywood's excess, hosting its infamous pool parties with a lingerie-only dress code for the female guests who cavorted in the caved grotto.

Built in 1927 and bought by Hugh Hefner for $1 million in 1971  the Playboy Mansion was emblematic o...
Built in 1927 and bought by Hugh Hefner for $1 million in 1971, the Playboy Mansion was emblematic of Hollywood's excess, hosting its infamous pool parties with a lingerie-only dress code for the female guests who cavorted in the caved grotto
Frederic J Brown, AFP/File

Elvis reportedly slept with eight Playmates at once at the 12-bedroom stately home, while John Lennon once burned a Matisse original with a cigarette.

The sale comes soon after the magazine's recent relaunch as a mainstream publication with no full-frontal nudity, and with the parent company on sale for an estimated $500 million.