Maxim Magazine, the "“Sex Sports Beer Gadgets" Magazine turned out a bad investment for private equity Quadrangle Capital Partners.
Bids are reportedly around $20 MM for the magazine, Bloomberg News says, or less than 1/10th the price of $250 MM Quadragle paid for it.
Who wants to pay money for a barely softcore mag? If I'm going to pay for a Maxim, I'd better see some titties of C-list actresses.
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