Last Thursday, the Playboy founder filed paperwork to dissolve his 20 year marriage to former Playmate of the Year, Kimberly Conrad Hefner. The couple married in 1989, and have been legally separated since 1998. Over the past decade, Hefner lived with numerous girlfriends at the Playboy Mansion as part of the E! reality show The Girls Next Door.

Now that the former couple’s sons, Cooper and Marston, are of age, Hefner, 83, says, “Now is the time.”

“I stayed married not because it was a marriage — the marriage ended in 1998,” Hefner said at the premiere of his documentary, Hugh Hefner: Playboy Activist and Rebel, at the Toronto International Film Festival on Saturday. “I stayed because she wanted me to.”

Relations between the exes have been bitter in recent months, beginning after Hef sold the house next door to his famous Playboy Mansion in Beverly Hills, where Conrad had been living . Conrad promptly filed suit against the 83 year old, claiming he has failed to honor their pre-nuptial agreement and owes her more than $5 million.

Hefner and Conrad, who married in 1989, have two sons together, Conrad, Marston, 19, and Cooper, 17.

“Spent the day shooting a Guitar Hero commercial with my girls directed by Brett Ratner,” Hef Tweeted in a message Wednesday. The 83-year-old Playboy founder is currently dating Crystal Harris, as well as identical twins Karissa and Kristina Shannon.

Ratner also wrote a Twitter message revealing that he is involved in a upcoming film about Hef’s life: “Crystal Harris, Kristina and Karina Shannon Rock in Guitar Hero 5 commercial! I’m also working on the movie of Hugh Hefner’s life with Brian Grazer producing! Its called Playboy.”

Hugh Hefner is being sued for $3 billion by a Looney Bird Johnson claiming she is the reincarnation of “Venus Aphrodite Demilio.”

Wait — What?

Sheri Allred has filed papers at the Los Angeles Superior Court in which she claims the Playboy founder is part of a pedophile organization that targeted her when she was five years old.

“Yes, sir I am asking for 3 billion dollars from Mr. Hefner. He’s been after me since I was a baby. Along with a pedifile organization in L.A. When I was about 5 yrs. Old He mysteriously was underneath my bed and he grabbed my arm and said that he and forsay the beatles and he mentioned the names of them. I asked like in my head, since I’m a hat everone in the world heres my thought’s, a good way to establish peace. So I thought and said you’d better let go of my hand (sic),” Sheri alleges in the incoherent statement obtained by TMZ on Thursday.

Sheri – who claims she was “born the biggest hat in the world” -adds: “He’s always mayed my life my adopted families lives a mess you realize he’s suppose to be be the centaur of the greek gods. And since I’m really a reincarnation, I really am Venus Aphrodite Demilo the goddess. Along with roger dawson he’s odyeseuos and everyone I know knows this (sic).”

Speaking at the recent Playmate of the Year party at The Palms in Las Vegas, the 83-year-old Playboy publisher admitted that he still can’t differentiate between the 19-year-old blondes after several months of dating.

“I have one little trick, one has a little mark. Other than that, I don’t know…”

The one-time “Girl Next Door” split from the 83-year-old Playboy founder last year. Nonetheless, Hef will front and center when the 23-year-old blonde weds football star Hank Baskett at the Playboy Mansion next month.

“My wedding will be at the Playboy mansion and Hugh and I will dance our own special song to Frank Sinatra or something. It’ll be cute. He’ll always be in my life.”

Kendra says Hank initially struggled to accept her friendship with Hugh but is now comfortable with their closeness.

“Hank was not secure about my relationship with Hef at first – but now he gets it.”

Hef, 83, founded the men’s mag more than 56 years ago, but the dominance of the Internet — with its access to free pornography — has taken its toll on the magazine’s sales in recent years, The Daily Telegraph reported Sunday.

Playboy sales have dropped from seven million an issue in 1972 to around three million today.

A Playboy spokesman denied that the mag had received any offers, but cautioned that Playboy would “listen to proposals that could create value for all of our shareholders.”

Robert Downey Jr. has earned the Hugh Hefner Seal of Approval to portray the men’s magazine boss in a proposed biopic based on his life.

Over the past year, the Iron Man has regularly expressed an interest in taking on the lead role in a retelling of the aging Lothario’s life story — but he has now been given the green light from Hef himself.

“Downey and I have talked about it and it is a very real possibility. He’s a marvelous actor and I would be honored if he decided to do it…”

Hugh Hef is still holding a torch for former girlfriend Holly Madison.

The 83-year-old magazine mogul says he is still in love with the 29-year-old blonde and is desperate for her to return to the Playboy Mansion.

“I’d welcome Holly back with open arms because she is still the love of my life,” Hugh explains in a new interview with L.A. Confidential.

Hugh currently lives with new Girls Next Door 19-year-old twins Kristina and Karissa Shannon and Crystal Harris, 22.

However, Holly – who moved out of the mansion last year after spliting with Hugh – is unmoved by her former boyfriend’s public declaration of love, insisting there is no chance of her returning to life at the Playboy Mansion.

She 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.”

According to the Los Angeles Times, Hef is unloading the 700-sq-meter mansion that shares a lot with the official Playboy mansion next door.

The 82-year-old Playboy founderbought the 700-sq-meter mansion for a reported $6.7 million for his former Playmate wife Kimberley, in 1998. The couple split in 1999 but Kimberley remained in the house, where she raised their two sons who have now gone to college.

The mansion boasts five bedrooms, seven bathrooms, a two-storey entrance hall, three fireplaces, a library, a family room, and an eat-in kitchen.