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Hugh M. Hefner (born 04/09/1926 in Chicago, IL) founded HMH Publishing Company, Incorporated, in Chicago, IL, in 1953. Later redubbed "Playboy Enterprises, Incorporated," this umbrella company published Playboy magazine, and operated other entertainment-related businesses, including 40 nightclubs and casinos (all closed in 2012 but one) as well as video production. Hugh Hefner operated the sex company from its founding until 1982, when his daughter, Christie (born 11/08/1952 in Wilmette, IL), a Phi Beta Kappa graduate of Brandeis University, took over, operating the firm until 01/31/2009. Hugh Hefner took the company public in 1971, at the high watermark of the magazine's popularity, and it remained a publicly-traded concern until 03/2011, when the founder returned it to private ownership.

PCAD id: 1792