Owner of US version of Dennis’s Maxim magazine, Alpha Media, is struggling with debt and could be put in to administration.
The Wall Street Journal reports that Alpha Media is in restructuring talks that are expected to result in company being turned over to its creditors.
Felix Dennis sold his American publishing arm – which includes a US version of gadget magazine Stuff – to Alpha Media in 2007.
The $250m deal meant that the UK version of Dennis could not export, reducing its circulation dramatically.
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