Dennis was thought to have been in talks for some time with executives at Universal cable television division USA Networks about developing Maxim-branded programmes.
However, these talks are thought to have moved on and Dennis is now in talks at a more senior level with Universal TV executives about launching a Maxim channel.
Maxim is the US's biggest-selling men's magazine with a circulation of 2.5m.
Universal TV reported to be looking for new channel ideas to fulfil the carriage requirements made following Vivendi Universal's $1.5bn (£1bn) investment in EchoStar in December.
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