'Maxim' Magazine Sold to Operator of Steak 'n Shake Restaurants

'Maxim' Magazine Sold to Operator of Steak 'n Shake Restaurants: 

http://mashable.com/2014/02/28/maxim-magazine-sold-to-operate-of-steak-n-shake-restaurants/

"BY JASON ABBRUZZESE FEB 28, 2014

A smart business deal can help diversify a business or appeal to a core user. Sometimes the best do both. 

Maxim magazine has been bought by Biglari Holdings, a company that operates Steak 'n Shake among other businesses, according to a press release. Biglari currently does not operate any other media outlets, according to its website.

Maxim will continue to operate independently. "Maxim's inclusion into our collection of companies will benefit from our financial strength. We plan to build the business on multiple dimensions, thereby energizing our readership and viewership," said Sardar Biglari, chief executive of Biglari Holdings.

The magazine was said to be entertaining bids of around $20 million in summer 2013. The company that operates Maxim, Alpha Media Group, was most recently sold in September to Darden Media for an undisclosed sum.

Read more; http://mashable.com/2014/02/28/maxim-magazine-sold-to-operate-of-steak-n-shake-restaurants/

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