B-DAY: Will Kent Brownridge reenter the magazine business along with Quadrangle Group by winning the bid for the Dennis Publishing trio of titles for sale: Maxim, Stuff and Blender? Media insiders may find out before they hit the beach for the long holiday weekend. Final bids are due today for the three magazines — owner Felix Dennis is holding on to The Week — and speculation has swirled for weeks that ex-Wenner executive Brownridge and Quadrangle will be the party most likely to go the distance. Though it is not known what Quadrangle is expected to bid, one source close to the deal believed its offer could be north of $235 million.
Although Quadrangle is said to be the front-runner, others think a dark horse could swoop in and outbid it at the last minute with a monster offer, à la Rupert Murdoch and his $5 billion bid for The Wall Street Journal. Analysts have put billionaire Ron Burkle in that camp, believing his recent purchase of Primedia's Enthusiast Media titles through his investment firm, Yucaipa Cos., proves he is willing to pay a high price for a complex media property. But at the end of the day, according to both analysts and sources familiar with the deal, the winner won't come down to the highest bidder. The sale depends on whether Felix Dennis, who is said to be looking for $250 million for the titles, accepts any of the offers on the table. — Stephanie D. Smith
NEW FACE: Lindsay Lohan might usually be seen in Gucci, Chanel or Prada, but come fall, she'll be hawking a whole new label: Jill Stuart.
The contemporary sportswear designer has snagged Lohan to be the face of its print ad campaign, which will hit August magazines and run through November. The campaign marks the first time Jill Stuart has chosen a celebrity for her ads.
"I can't say enough fantastic things about Lindsay," Stuart said of her choice to go with the starlet rather than a model. "She is sexy and smart, exactly what the Jill Stuart woman embodies."
Although Quadrangle is said to be the front-runner, others think a dark horse could swoop in and outbid it at the last minute with a monster offer, à la Rupert Murdoch and his $5 billion bid for The Wall Street Journal. Analysts have put billionaire Ron Burkle in that camp, believing his recent purchase of Primedia's Enthusiast Media titles through his investment firm, Yucaipa Cos., proves he is willing to pay a high price for a complex media property. But at the end of the day, according to both analysts and sources familiar with the deal, the winner won't come down to the highest bidder. The sale depends on whether Felix Dennis, who is said to be looking for $250 million for the titles, accepts any of the offers on the table. — Stephanie D. Smith
NEW FACE: Lindsay Lohan might usually be seen in Gucci, Chanel or Prada, but come fall, she'll be hawking a whole new label: Jill Stuart.
The contemporary sportswear designer has snagged Lohan to be the face of its print ad campaign, which will hit August magazines and run through November. The campaign marks the first time Jill Stuart has chosen a celebrity for her ads.
"I can't say enough fantastic things about Lindsay," Stuart said of her choice to go with the starlet rather than a model. "She is sexy and smart, exactly what the Jill Stuart woman embodies."
