In December, the company's CEO Christie Hefner, announced she would be stepping down after 20 years at the helm of Playboy.

Playboy also slashed jobs, consolidated online and print operations and cut 14 percent of its workforce in 2008.

"The results of our efforts to date should be meaningful, but in the face of current economic conditions, it is clear that our streamlining initiatives need to continue," interim Chairman and Chief Executive Officer Jerome Kern said in a statement.

Iconix CEO Neil Cole is reportedly looking for acquisitions to add more brands for Iconix to license to retailers and manufacturers.

"Neil Cole has done a phenomenal job of taking some of these lost brands and developing them into something," said Financo CEO Gilbert Harrison, a New York adviser and investment bank specializing in retail. "Certainly Playboy would fit that mold."

Hugh Hefner, the company's 82-year-old founder, still has a hand in operations, overseeing Playboy magazine as editor-in-chief and controlling nearly  28% of the stock. Hefner would have to be on board with the sale for it to go through. The bodog sportsbook has all your celebrity odds and more! Don’t have an account yet? Join bodog now. It’s free.

Now, the world's most notorious bachelor is actually pining for his lost love. Hugh Hefner has reportedly told Los Angeles Confidential he’d welcome Holly Madison back with open arms, even though he has a new girlfriend, Crystal Harris.

"How serious, and intimate, and important that works out to be, well we'll have to wait and see because it's only a couple months old," Hef said of his relationship with Harris.

Hefner went on to tell the mag that Madison, who he dated for seven years, is the “love of his life” and  he’d welcome her back anytime.

To this, Holly said, "I loved my time at the mansion and think the world of Hef. There comes a time in everyone's life where they need to go their own way."

In December, the company's CEO Christie Hefner, daughter of Hugh Hefner, announced she would be stepping down after 20 years at the helm of Playboy.

Last month, Playboy announced it was slashing jobs, consolidating online and print operations and take an in depth audit of their losses. The company cut 14 percent of its workforce in 2008.

"The results of our efforts to date should be meaningful, but in the face of current economic conditions, it is clear that our streamlining initiatives need to continue," interim Chairman and Chief Executive Officer Jerome Kern said in a statement.

Hugh Hefner, the company's 82-year-old founder, still has a hand in operations, overseeing Playboy magazine as editor-in-chief.

"They still have a very special connection, you can see that when Hef looks at her," a mansion insider told Tarts.

Hefner and Conrad were married in 1989 and stayed together for ten years before separating. They have two teenaged sons together and have no plans to divorce.

"This upset Holly [Madison] a lot, as she really did want to marry Hef and have a family with him, but she realized it was never going to happen and that’s when she left," said a source.

Kendra told Us Weekly, "I had to have sex every now and then, so I had to kind of sneak it. Besides the nights we went out, I only saw Hef, like, once a day walking through the halls to his office. There were never solo dates. The most we kind of say to each other is, 'I love you,' 'Love you too,' 'I hope you have a good day,' 'Did you have a good day?' Bridget [Marquardt] told me that she's been faithful all these years, and I was like, 'How the hell can you do that?' I had to have [sex] so I could feel my age, like a healthy human being."

Wilkinson also said that she received a $1,000 per week allowance while at the mansion and also had to let staff members know where she was going at all times.

"I hate putting my hand out, but we couldn't have jobs other than getting appearance fees," she said.

Wilkinson has changed her tune since becoming engaged to Philadelphia Eagles' Hank Baskett: "Now I'm totally against [Hefner's] way of life, with three girlfriends and all of that."

Hefner said that "just as this country is embracing change in the form of new leadership, I have decided that now is the time to make changes in my own life as well."

Hefner recently gave an interview to CNBC where she hinted that she may be vying for a role in the Obama Administration.

"Like many Americans, I've been struck by the call to service that was the hallmark of the campaign, and I was an early supporter of Senator Obama, now President-Elect Obama, and I believe deeply in what he wants to do for our country," Hefner said. "I'll be looking for ways in which I can serve to be helpful in that regard."

Hefner, now 56, joined her father's magazine out of college and took over as chairman and CEO in 1988 from Hugh Hefner.

Holly says: "I want to be with somebody I can have more of a future with eventually. Hef and I can't get married and have kids, so it was fun while it lasted."

Holly also discovered that Hugh Hefner was high maintenance. She says, "As for her personal love life, she adds, "It might be refreshing to date someone who is not high maintenance. Sorry, Hef, you know you're high maintenance. I love you but you know you're high maintenance."

Holly has apparently moved on to Criss Angel, who is a real catch. Angel said of Holly, "We're good friends and we love spending time with each other." And then he added, "Friends with benefits. Yeah!"

"They [Karissa and Kristina Shannon twins] very much want to be girlfriends and now under the present circumstance, they probably will become my girlfriends," Hefner said.

The girls have reportedly been sleeping in the same bed with the 82-year-old Playboy founder.

"What’s Going on
Current mood: lonely

Hef and I will always be friends. I do have my own place, but I am still at the Mansion, too, right now. I'm too busy to move! hahaha.  Bridget, Kendra and I are all still best friends and plan on doing several projects together in the future even though Bridget is in Europe right now and I am sad and lonely without her.

You will see how it all happens in Season 5. Sunday nights on E! How lame, I just turned that into the most shameless plug ever. lol!

Love-Holly"

The Dirty reports: "Holly Madison moves out of the Playboy Mansion because she is sleeping with Criss Angel. According to inside source though Hef is totally fine with it. Holly Madison was really working her way into everything (will) at Playboy even choosing Playmates for the magazine. Now The Girls Next Door Producers are scrambling on how they are going to finish the show with Holly Madison- Ex-Girl Next Door."

The Superficial says, "But, in all seriousness, folks, talk to your kids about Criss Angel. Because a douche is a terrible thing to be."