U.S. men's mags sold to private equity firm

Three men's magazines with significant Canadian circulation -- Maxim, Blender and Stuff -- have been purchased from Dennis Publishing by a private equity company for about US$240 million. In cooperation with Kent Brownridge, a former executive of Wenner Media (publishers of Rolling Stone and US), Quadrangle Capital Partners is but the latest private firm to take over well-known magazines in the states. This, according to a story in MediaDaily News.

Brownridge's plans for the titles aren't yet known, but he will likely continue the program of rolling out new branded events and experiential marketing already underway at the titles. Maxim is opening 15 "Maxim Prime" steakhouses in partnership with restaurant-manager Jeffrey Chodorow, and is also planning to open a giant Maxim-branded casino on the Las Vegas strip. Meanwhile, in a strategic move up-market, Stuff has opened Stuff VIP Travel, a concierge service for trip-planning, and also throws a party at the Kentucky Derby.