Kim Kardashian Sex Tape: Vivid Entertainment Rejects Anonymous Buyer's $20 Million Offer

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"Although the offer that we ultimately received was substantial, when I realized that it wasn’t Kim it became less appealing," company chief Steve Hirsch says.

Vivid Entertainment has rejected a $20 million offer from an anonymous buyer to purchase the rights to Kim Kardashian's sex tape, TMZ reported.

In August, the unidentified person's Tennessee lawyer sent Vivid founder and co-chairman Steve Hirsch a letter that read: “I was approached by a private party who has asked us about looking into the possibility of acquiring all rights of the Vivid, ‘Kim Kardashian Sex Tape. …  The party we represent does not intend to distribute or broadcast the ‘tape’ but hopes to completely remove it from the market.” 

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But Hirsch told TMZ this weekend that he rejected the offer.

"We were offered $20 million for the Kim tape but have decided that we are going to hang on to it ... for now," he said. "Although the offer that we ultimately received was substantial, when I realized that it wasn’t Kim it became less appealing. Kim is a superstar, and if it were to be sold, it should be to her."

STORY: Anonymous Buyer Wants the Rights to Kim Kardashian Sex Tape

Hirsch recently told The Hollywood Reporter that the starlet’s Aug. 20 nuptials created a massive spike in traffic to Vivid’s 2007 Kardashian adult tape. The KimKSuperstar website received roughly 2 million hits during the wedding weekend Aug. 19-21, which is a significant rise from its average of 300,000. 

Hirsch said in a statement to THR, "The power of Kim Kardashian's name continues to amaze us. The Kim/Ray J sex tape has been a best seller for us since it was introduced in 2007 and there's no question that the media focus on her wedding last weekend increased traffic to"

STORY: Kim Kardashian Wedding Boosts Demand for Her Sex Tape

Kardashian's wedding to NBA player Kris Humphries was estimated to have cost $6 million, which the star offset by securing large discounts through venders who gave items and services in exchange for publicity on the her Twitter account and TV show, Keeping Up With the Kardashians.