Alpha Recapitalizes to Reduce Debt
Recession-hobbled Alpha Media Group recapitalized to reduce its debt, the company announced.
Private equity-backed Alpha’s fortunes have soured since it paid Dennis Publishing $240 million in 2007 for lad magazines Maxim and Stuff and music title Blender.
Alpha shut Stuff immediately after the sale and then closed Blender in April 2009 following steep declines in ad pages there.
Maxim continues to struggle, its ad pages falling 33 percent to 299 this year through July, per the Mediaweek
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