• Forbes, Wednesday, February 16, 2011 1:45 PM

Although Hugh Hefner was said to control the limited partnership that purchased Playboy Enterprises last month, his stake is only about 37%, writes Jeff Bercovici in Forbes. But Hef does have "the right to approve the overall image, costume and promotional outfits used by Playboy Bunnies" -- and isn't that what's most important?

Actually, Hef's key priorities were his employment contract's guarantee of full editorial control of the publication, along with the right to continue living in the Playboy mansion for a "nominal rent," Bercovici reports.

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