The well-known men’s magazine Maxim has been sold, according to a story by Advertising Age. The weird part of the story: A restaurant company bought the magazine.
"Alpha Media Group has sold Maxim magazine to a subsidiary of Biglari Holdings, a holding company that specializes in owning restaurants such as Steak ‘n Shake, the companies said Thursday," Ad Age reports. "Maxim’s current management team will continue to run the magazine and it will remain headquartered in New York. Terms of the deal were not disclosed."
Sardar Biglari, chairman and CEO of Biglari Holdings, issued a press release Thursday indicating that the company sees the Maxim brand as a long-term investment.
He said in the release: "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."