Kent Brownridge's acquisition of the Felix Dennis lad titles is finally complete. As mentioned before, Stuff will be folded into Maxim. No word yet on layoffs or whether they're shopping Maxim editor Jimmy Jellinek's job, but the press release, which you can find below, does indicate that stuffmagazine.com "will continue to be a digital destination," presumably because there are enough people who are still willing to jerk off to it.
QUADRANGLE CAPITAL PARTNERS AND KENT BROWNRIDGE COMPLETE ACQUISITION OF DENNIS PUBLISHING
Company Is Renamed Alpha Media Group
Stuff Magazine To Become A Regular Section In Maxim Magazine
New York, NY, August 15, 2007 - Quadrangle Capital Partners II LP, a private equity fund focused on the media and communications industries, today announced the completion of its acquisition of Dennis Publishing, Inc. Longtime media executive, Kent Brownridge, will serve as the Chief Executive Officer of the newly renamed company, Alpha Media Group Inc.
"Alpha Media Group's assets are among the best in the publishing industry," said Brownridge. "The magazines and websites are uniquely positioned among the young male demographic and are extremely attractive platforms for advertisers. I am particularly pleased to be partnering with Quadrangle, whose experience and expertise in the media industry is unmatched."
Alpha Media Group also announced today that Stuff magazine, launched in 1998, will cease publication after the October issue—it will then appear as a regular section in Maxim magazine.
"Stuff magazine is a clear and purposeful brand that will continue to reach its audience through Maxim," said Brownridge.
Stuffmagazine.com will not be affected; it will continue to be a digital destination.
About Alpha Media Group Inc.
Alpha Media Group Inc. is a multimedia company that includes Maxim and Blender magazines and their websites Maxim.com and Blender.com. Maxim magazine is the most successful modern men's lifestyle magazine in America reaching more than 12.4 million readers each month. Blender is a general interest music magazine that reaches nearly 2 million readers monthly. Maxim.com and Blender.com reach an average 5.2 million unique visitors monthly. Additionally, Maxim magazine is published in 43 countries; Maxim Radio is broadcast on Sirius Satellite Radio on channel 108.
About Quadrangle Group LLC
Quadrangle Group LLC is a private investment firm with over $6 billion in assets under management. Quadrangle invests in media and communications companies through separate private and public investment strategies and in debt securities across all industries through a debt investment program. Quadrangle Capital Partners represent its private equity funds that specialize in the media and communications industries. All investment strategies seek to maximize value by leveraging the investment teams' extensive experience, knowledge and industry relationships. For more information, please visit http://www.quadranglegroup.com.