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The publisher has appointed New York investment bank Allen & Company to look at a possible sale of the US company, Dennis Publishing Inc.
The group’s magazine assets include Maxim, which has 31 editions in 45 countries including the UK, and titles such as Stuff and Blender.
The company also runs websites, mobile content, television programmes and a satellite radio channel.
It is understood that the planned sale would not include news weekly The Week, nor the British automotive and gambling titles. Dennis would continue to publish Maxim under licence in the UK.
Maxim recorded circulation of 131,497 in the ABC magazines report released yesterday, down 10% period on period and 29.3% year on year.