San Antonio, TX and
New York, NY, Feb. 27, 2014 /PRNewswire/ -- Biglari
Holdings Inc. (NYSE: BH) and Alpha Media Group announced today that
a wholly-owned subsidiary of Biglari Holdings has acquired MAXIM,
the largest young men's lifestyle media brand.
MAXIM will continue to be operated by its current management
team and will continue to be headquartered in New York City.
Sardar Biglari, Chairman and CEO
of Biglari Holdings said, "As the new owner, we look forward
enthusiastically to making long-term investments in pursuit of
revitalizing the MAXIM brand. MAXIM's inclusion into our collection
of companies will benefit from our financial strength. We plan to
build the business on multiple dimensions, thereby energizing our
readership and viewership."
Ben Madden, President of MAXIM,
commented, "MAXIM brand will thrive under our new owner. The
planned investments across MAXIM's many platforms will regenerate
the power of the brand with both our advertising partners and
consumers worldwide."
About Biglari Holdings Inc.
Biglari Holdings Inc. is a diversified holding company engaged
in a number of business activities, among which the most important
is the restaurant business. All major operating, investment, and
capital allocation decisions are made by Sardar Biglari, Founder, Chairman and Chief
Executive Officer, on behalf of Biglari Holdings and its main
operating subsidiaries.
About Alpha Media Group
Alpha Media Group Inc. is a multimedia company and publisher of
MAXIM, the largest young men's lifestyle brand in America, which
reaches nearly 9 million readers each month. MAXIM Digital reaches
more than 4 million unique viewers each month. MAXIM magazine
publishes 16 editions, sold in 75 countries worldwide. More
information is available at www.maximmediakit.com.
SOURCE Biglari Holdings Inc.