Giant founder Jamie Hooper looks to follow in the illustrious steps of Time4Media, announcing plans to sell the magazine off to the highest bidder. In this case, it's Radio One.

The decision to cash out may have something to do with Giant's somewhat disappointing performance. Since its launch back in '04, Giant hasn't exactly matched the successes of Dennis Group's top-selling boobalicious titles Maxim and Stuff. (Then again, FHM was a decent competitor with 1.25 million in circ, and look how that ended.)

With more identity crisis than Augusten Burrough's semi-fictionalized childhood characters, frequent punching bag Giant never much figured out what it wanted to be: a lad mag for the young types or a music mag for the lad types.

Hooper's call to sell out, meanwhile, may have something to do with pressure from his principal backer, Mort Meyerson, who—in addition to being Investor Numero Uno—is also Hooper's father-in-law.

A former business partner of Ross Perot's, Meyerson initially staked Hooper with a $10 million-plus investment. "Giant hasn't really done what Jamie told him it would do," says one source who knows Hooper. "It must've made for an awkward Thanksgiving."

An awkward Thanksgiving, indeed. And, most likely, a less than stellar champagne toast on New Year's Eve.

However, it looks as though Hooper's planning to turn over a new leaf in 2007, as he's already made good on this year's resolution: Stop squandering father-in-law's investment on mediocre, money-hemorraging pet project that you've managed to screw up so badly even Grade B girls won't sleep with you.