The magazine, to be pitched at the older men's market, was due to be linked closely with Maxim Fashion, the spin-off launched last month.
Dennis said it wanted to let the advertising market recover sufficiently before launching the magazine. The company said readers' loyalty to the Maxim brand will ensure its success.
Rival publisher Ifeelgood, run and owned by former Loaded editor James Brown, was also forced to axe plans for an older men's magazine, dubbed Project Jack.
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