Dennis puts magazines on the block
EmptyDennis Publishing, publisher of Maxim, Stuff, Blender and The Week, announced Thursday that it has put its stable of titles on the block, retaining media investment firm Allen & Co. to explore strategic alternatives. The sale includes all 31 international editions of Maxim, from the U.K. to France, Russia to South America, as well branded licensing deals with the casino in Las Vegas, as well U.S.-based steakhouses, lounges and fashion bedding.
While Maxim and sibling Stuff paved the way during the laddie phase in the late '90s, the category has matured in recent years, with the titles experiencing slower growth.
Maxim's total paid and verified circ was flat at 2.5 million in last year's second half, according to the Audit Bureau of Circulations. Newsstand sales dropped 12.2%. As for Stuff, its total paid and verified circ fell 4.8% to 1.25 million, missing its rate base of 1.3 million. Single-copy sales plunged 34.9%. Ad pages, however, are up at Maxim.
Through March, Maxim's ad pages grew 14.9% to 147, reports the Mediaweek Monitor. Stuff's pages dipped 2.4% to 138.
Meanwhile, its rivals fared much worse. Emap's FHM threw in the towel, folding last December, and former Dennis publisher Jamie Hooper's startup.
Giant was sold to Radio One for $275,000 and repositioned to serve the urban market.