Interactive One Acquires Russell Simmons' GlobalGrind
December 22, 2014 at 3:52 AM (PT)
GLOBALBRIND will anchor a new MILLENNIALS channel for INTERACTIVE ONE, made up of more than a dozen sites that target this demographic, including STUFF FLY PEOPLE LIKE. During the last year, iONE has collectively shown impressive growth in reach (+145% to 33 million unique visitors per month).
Focusing on "Hip-Pop!," GLOBALGRIND covers entertainment, celebrity, music, style and fashion, culture, news and politics.
"This acquisition, which perfectly aligns with our existing multimedia brands, allows us to exponentially fast track our MILLENNIAL channel expansion strategy by leveraging GLOBALGRIND's highly regarded content," said RADIO ONE's ALFRED LIGGINS, the President/CEO of RADIO ONE INC., the parent company of iONE.
The acquisition comes on the heels of iONE's existing sales, content, technology, product and marketing partnership with GLOBALGRIND which began in APRIL 2013. GLOBALGRIND.COM's reach has grown approximately 60% (rising from 2.5 million unique visitors per month in AUGUST 2013 to a projected 4.1 million this month).
Following this acquisition, GLOBALGRIND founder SIMMONS and co-President MICHAEL SKOLNIK will remain actively involved, with SKOLNIK staying on board as editor-in-chief.
Commented SIMMONS: "I have been very proud of the care INTERACTIVE ONE has given my baby under our partnership to date, and am extremely excited to be contributing my points of view on trends and issues of utmost importance within the community, particularly social justice. GLOBALGRIND will continue to be a pop culture tastemaker and voice for the hip-hop generation."
Added SKOLNIK: "Having worked closely with ALFRED, TOM and the entire INTERACTIVE ONE family, I look forward to this new chapter as we collectively look to expand iONE's coverage in the areas that matter most to our audience, and to do so while working closely with our new colleagues across the organization."
Stated iONE President TOM NEWMAN, "Having had the opportunity to already work closely with the GLOBALGRIND team during the last two years, we have a very clear understanding of how to take this wonderful brand to the next level while holding on to the aspects that have made it the powerhouse it is today with its MILENNIAL audience. "It very nicely complements our flagship properties, including HELLOBEAUTIFUL, THEURBANDAILY and NEWSONE, with more to come in 2015."