Maxim Magazine Sold, With Plans To Create TV Channel | Roland Martin Reports

Maxim Magazine Sold, With Plans To Create TV Channel

Source: William Launder / The Wall Street Journal

The owners of Maxim Magazine have agreed to sell the men’s magazine to a media group led by Calvin Darden, in a deal aimed at expanding the men’s lifestyle brand to cable television and to music production.

In an interview, Mr. Darden said his newly formed Darden Media Group plans to create a Maxim-branded TV channel. He says he has already reached one distribution agreement with a pay-TV operator, and plans to complete two more in the weeks ahead.

Mr. Darden is aiming to distribute the new channel to approximately 35 million households by year-end. He also plans to launch an independent music label based on Maxim.

Financial terms of the deal weren’t disclosed.

To read this article in its entirety visit The Wall Street Journal.