Dennis Publishing has reached an agreement to sell Dennis Publishing Inc, its American magazine arm, to Quadrangle Capital Partners, a private equity fund focused on the media and communications industries.
The deal comprises some of the world’s most famous young men’s magazines and websites, including
Maxim,
Blender and
Stuff.
Dennis Publishing Inc was founded in 1995, and its first title Maxim became the biggest men’s magazine in America selling over 2.5 million copies every month.
Chairman and owner, Felix Dennis, said: “We are very pleased with this transaction. I believe that the magazines and operations will be in capable, experienced hands and I wish Quadrangle and Kent Brownridge as much luck with Maxim, Stuff and Blender as my partners and I have enjoyed over the past ten years. In the UK my company looks forward to remaining very much a part of the growing Maxim family.”
The US edition of The Week is not included in the sale.
Dennis Publishing UK is unaffected by the sale of Dennis’s American assets, and the British edition of Maxim will continue to be published under license.
James Tye, chief executive, Dennis Publishing Ltd, UK said: “The UK and US businesses have always been run entirely separately, and this announcement will have no impact on the UK company, the UK edition of Maxim or any other brand within the portfolio. We are delighted to remain associated with one of the premier magazine brands in the world.”
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