Playboy says Penthouse bid difficult to value-filing
January 24, 2011 at 19:50 PM EST
NEW YORK, Jan 24 (Reuters) - Playboy's board of directors revealed in a government regulatory filing on Monday it has turned down a higher price offer from the owner of its chief rival magazine Penthouse, indicating the bid's value was less than that of founder Hugh Hefner's all-cash proposal.