Hostess Heir Buys Playboy Mansion

LOS ANGELES, CA - The iconic Playboy Mansion has been sold to a member of the family that owns Hostess Brands foods, the Wall Street Journal reported today.

Hugh Hefner, Playboy's 90-year-old founder, will be permitted to continue living at the Holmby Hills estate for the rest of his life, according to the report.

The purchaser was 32-year-old Daren Metropoulos, who lives on the property next door to the mansion, which he bought from Hefner in 2009 for $18 million. Metropoulos reportedly plans to merge the two properties once Hefner's tenancy ends.

"The heritage of this property transcends its celebrity and to have the opportunity to serve as its steward would be a true privilege," Metropoulos said, according to the Journal.

Playboy Enterprises acquired the property in 1971. The 20,000-square- foot mansion, built in 1927, became famous in the 1970s and '80s for its many parties featuring celebrities mingling with scantily clad models.

The purchase price could not be confirmed, according to the Journal, which cited a representative for the buyer. The mansion had been listed for $200 million.

City News Service; Photos: Wikimedia Commons