The deal between Maxim owner Alpha Media Group and Darden Media Group, which involved the latter buying and expanding the Maxim brand, is officially dead. The New York Post is reporting that Alpha has now turned to another bidder, a combination of Infinity Group, a licensing company, and Hilco Global, a financial services company.
Infinity and Hilco’s bid is expected to be about $20 million, making it $10 million less than Darden’s offer. Alpha and Darden hit a stumbling block in November, when it was rumored that Calvin Darden Jr. (son of Darden Media’s owner, Calvin Darden) would be involved in the acquisition. Further muddling things was Darden Media’s failure to come up with cash as deadlines came and went.
Infinity and Hilco already have a branding and licensing deal with Miss America, so Maxim would seem to be a natural fit. One is an event pairing cheesiness and scantily clad women, the other is magazine doing the same thing.