Hasta La Creative!

Maxim magazine, the bawdy men’s title that went up for sale in March, is fetching some bids of about $20 million, less than a 10th of the price its owners paid six years ago, according to people familiar with its finances.

Maxim publisher Alpha Media Group, controlled by creditor Cerberus Capital Management, is expected to lose between $3 million and $5 million this year, according to the people, who asked not to be named because the matter is confidential.

The magazine’s owners are seeing yearly revenue declines as Maxim, once a leading men’s title, contends with an industrywide downturn in marketing dollars. Advertisers and readers have shifted their attentions toward digital venues, where ad rates are cheaper and the content largely free.

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