As Hugh Hefner nears his 90th birthday, Playboy is up for sale.
The brand confirmed to FOX411 it is exploring sale opportunities.
“We can confirm that we are engaged in a process to gauge interest from additional investment partners to help us continue to expand our media, entertainment and licensing businesses. This process could eventually lead to a sale of the company.”
In January, it was announced that the Playboy Mansion is also for sale—with Hugh Hefner still in it. The property went on the market for $200 million with the caveat that Hefner remain in the home until the time of his death.
The Wall Street Journal estimated Playboy, which Hefner founded in 1953, is now worth upward of $500 million.
The news of a possible sale comes on the heels of the iconic mag’s decision to do away with nudity. The first non-nude issue of the men’s magazine debuted in March 2016.
Playboy announced its decision to cover up in October 2015, citing a new vision for the brand’s future.
"You're now one click away from every sex act imaginable for free. And so it's just passé at this juncture," Scott Flanders, the company's chief executive, told the AP at the time.
Snapchat star Sarah McDaniel, 20, appeared on the cover of the first non-nude issue without the heavy makeup and airbrushing Playboy has become known for.
Fox News.com Reporter and FOX411 host Diana Falzone covers celebrity news and interviews some of today's top celebrities and newsmakers. You can follow her on Twitter @dianafalzone.