Dive summary:
- Darden Media Group purchased Maxim from Alpha Media with plans to distribute the content across TV, radio and music channels.
- According to Darden founder and chairman Calvin Darden, moves to create "powerful, transmedia brands that engage consumers and advertisers on multiple platforms" are on the rise.
- A person close the negotiation reported there were at least 10 other bidders for Maxim and that bids were coming in around $30 million.
From the article:
"Mr. Darden, who founded his media group earlier this year, is a former senior VP and board member of UPS. In addition to running the media group, Mr. Darden owns a real-estate development company and serves on the board of directors at Target and Coca-Cola. Fortune magazine ranked Mr. Darden as one of the '50 Most Powerful Black Executives in Corporate America.'"
