Media World: Hugh Hefner is looking for a sugar daddy

Hugh Hefner, America's favorite girl-chasing geezer, may sell the Playboy empire he built more than 50 years ago.

According to the New York Post, Playboy Enterprises Inc. (PLA) is being "quietly" shopped around to private equity firms for about $300 million. That's roughly three times the market capitalization of the Chicago-based company. No wonder the Post is reporting that Apollo Capital Partners and Providence Equity Partners, which have been approached, have yet to make an offer. Perhaps Hefner thinks the company is worth quite a bit more than the investment bankers do.