Burger chain owner aims for sizzle with Maxim buyFebruary 28, 2014 @ 4:56 pm
(AP) - Seeking some sizzle, the owner of the Steak `n Shake burger chain is buying men's magazine Maxim.
Alpha Media Group Inc. put Maxim up for sale a year ago. The publication has struggled, with ad dollars dropping 28 percent last year to $80.7 million, bucking a 1 percent gain for consumer magazines overall, said the Association of Magazine Media.
Terms of the deal with Biglari Holdings Inc. were not released Thursday. The San Antonio-based company, headed by CEO Sardar Biglari, says Maxim will continue under its current management team and stay based in New York.
Earlier this month, Calvin Darden Jr. was arrested on fraud charges for impersonating his father, a successful executive, and fooling lenders into providing millions of dollars for a potential Maxim bid.
(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
Jason Rantz says paternalistic councilmembers may kill an affordable housing solution
Week In Photos
Jaw-dropping images from around the world this week
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.