Sardar Biglari, owner of Steak and Shake and now Maxim, has fired the upper leadership of the magazine in a shake up that has left the company's VP of business development Stephen Gregory Barr and creative director Paul Martinez in charge for the time being. Last week Mr. Biglari fired President Ben Madden; Editor-in-Chief Dan Bova; senior VP of digital
Bill Shaw; and associate publisher of integrated sales Sean Flanagan.
Maxim was estimated to have lost about $7 million in 2013 before he
acquired it in a busted auction for an estimated $12 million. Maxim was said to have contributed only $1.98 million to Biglari Holdings revenue in the quarter.
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