Maxim magazine has reportedly been bought by an Atlanta-based concern, Darden Media Group, for 20 million dollars, after a prolonged sale process.
Calvin Darden, a retired UPS executive, who heads the media group, plans to use the brand to form a TV channel and a record label, the New York Post revealed.
According to the Wall Street Journal, Darden already has an agreement with a pay-TV operator and aims to have the channel in 35 million homes by the end of 2013.