Magazine company to sell US division
The publishing company behind some high profile men’s magazines is to sell the US arm of its business, it was announced today.
Dennis Publishing has reached a deal to sell Dennis Publishing Inc, the American branch of the magazine company, to private equity firm, Quadrangle Capital Partners.
The company, owned by Felix Dennis, publishes four titles in the US, Maxim, Blender, Stuff and The Week.
Operations in the UK will be unaffected by the sale of its American assets, the company said.
Mr Dennis said: “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.”
The US edition of news review magazine The Week is not included in the sale.
Dennis Publishing Inc was founded in 1995 and saw its first title Maxim grow to become the biggest selling men’s magazine in America with 2.5 million copies leaving the shelves each month.
The magazine sells more than four million copies in 31 countries.
Parent company Dennis Publishing, which has an annual turnover of $315m (€235m), publishes 19 magazines in the UK, including Maxim, Men’s Health, The Week and Viz.
James Tye, chief executive of 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.”
