Abbey's Gist

“Hugh M. Hefner, the American icon who in 1953 introduced the world to  Playboy magazine and built the company into one of the most recognizable American global brands in history, peacefully passed away today from natural causes at his home, The Playboy Mansion, surrounded by loved ones,” a rep for the Playboy Enterprises founder said in a statement to PEOPLE. “My father lived an exceptional and impactful life as a media and cultural pioneer and a leading voice behind some of the most significant social and cultural movements of our time in advocating free speech, civil rights and sexual freedom. He defined a lifestyle and ethos that lie at the heart of the Playboy brand, one of the most recognizable and enduring in history. He will be greatly missed by many, including his wife Crystal, my sister Christie and my brothers David and Marston, and all of us at Playboy Enterprises,” said Cooper Hefner, his son and Chief Creative Officer of Playboy Enter...

It’s the end of an era: The Playboy Mansion has sold! The Playboy Mansion is in escrow with nearby neighbor Daren Metropoulos as the buyer, a Playboy spokesperson told PEOPLE. Although they can confirm the house is in contract, the representative declined to give additional details, including the sale price. The iconic site located in Los Angeles was listed in January for $200 million. Besides the steep price tag, the sale also comes with another stipulation: The buyer has to allow Hugh Hefner a life estate so he can remain in the home until his death. But Metropoulos, 32, seems to be up for it, as PEOPLE can confirm that  Hefner  and wife, Crystal, will continue to live in the Mansion. This isn’t Metropoulos’s first experience with Hefner in the real estate market, either. In 2009, Metropoulos, a principal at private-equity firm Metropoulos & Co., purchased his current property from Hefner for $18 million, according to  The...