LOS ANGELES (AP) — Racy men's magazine Maxim is up for sale.
The magazine's president, Ben Madden, confirmed the start of the sales process on Friday.
Madden says the private equity owners of Maxim's parent, Alpha Media Group, have owned the business for more than six years, and that is the usual time for such investors to try to sell.
Madden says that after some years of decline, revenue at the publication has steadied. The magazine publishes 10 times a year.
He says the company's investment in online video and digital subscriptions is starting to pay off. He says digital revenue is up 45 percent so far this year, compared to a year ago, while print ad revenue is set to rise in the first half.
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