Business News
Alpha Media Group Announces Recapitalization
Monday 20. July 2009 - Publisher of Maxim Significantly Strengthens Balance Sheet to Allow For Future Revenue Growth and Greater Profitability
Alpha Media Group (“AMG”), publisher of Maxim, announced today a recapitalization of its balance sheet, including a debt-to-equity conversion, which will significantly reduce the companys debt and improve its capital structure. The recapitalization is a result of Alpha Media Groups ongoing efforts to restructure and strengthen the companys operations and improve future revenue growth and profitability.
Stephen Duggan, Alpha Media Group CEO, said, “We are extremely pleased to announce the recapitalization which will reduce our company’s legacy debt loadit is an important step that will further strengthen our position as a leading branded entertainment company and allow for greater financial flexibility to serve our valued advertising partners and our audience of 13 million.”
AMG is now delivering multi-platform entertainment programs that engage the Maxim audience in print, digital, radio, mobile, television and film, providing 360-degree communication opportunities for its advertisers. Earlier this year, the Company integrated its advertising, sales and marketing operations to better meet its clients needs. On the content side, the Company named Joe Levy, the highly regarded editor and media personality, Editor in Chief of Maxim. Levy has led the integration of the print and digital editorial operations.
In February, Moving Pictures, AMG, the production division of Alpha Media Group that specializes in branded entertainment, television and film enjoyed the big screen premiere of its first major motion picture, Fired Up. A second feature film is slated for release in 2010 and a third film, based on a Maxim article, MotherTrucker, is in active development with New Regency. Moving Pictures, AMG has produced numerous television programs & specials including the annual Maxim Hot 100, the All-Maxim Team content on the NFL network, and Maxim’s Best Stuff with G4 and has partnered with the leader in pop culture news programming, E! Entertainment, to create and produce six, hour-long television specials.
Maxim is the largest young men’s lifestyle magazine in America reaching more than 13 million readers each month. Maxim Digital encompasses Maxim.com, Blender.com and Stuffmagazine.com and reaches more than 3 million unique visitors each month. Maxim is published in 43 countries; Maxim Radio with Covino and Rich is broadcast on Sirius XM Satellite radio.