THR/Billboard Acquires Spin Media Group, Includes Vibe, Stereogum
December 23, 2016 at 12:21 PM (PT)
The HOLLYWOOD REPORTER–BILLBOARD MEDIA GROUP and parent company PROMETHEUS GLOBAL MEDIA have acquired the SPINMEDIA music sites, including SPIN, VIBE, STEREOGUM and DEATH AND TAXES. The combined sites will reportedly be “the world’s largest music brand,” reaching 45 million unique visitors every month and one in three AMERICAN Mmerican millennials.
“In recent years, we set out to own the topic of music online, and the acquisition of these incredible music assets helps us do just that,” commented MEDIA GROUP Co-President JOHN AMATO.
“Bringing in these historic brands under Billboard gives us the chance to serve passionate music audiences from rock to urban to pop in one massive portfolio,” added Co-President JANICE MIN.
SPINMEDIA CEO STEPHEN BLACKWELL will be Chief Strategy Officer of the newly acquired company, overseeing revenue, digital growth and product.
The newly acquired sites will share their parent company’s emphasis on video and FACEBOOK LIVE. In fact, two-thirds of the MEDIA GROUP’s $100 million annual revenue comes from digital and video content.
SPINMEDIA (formerly BUZZMEDIA) acquired the titles (along with their print and digital properties) in 2012. The company’s former employees include NATIONAL ENQUIRER Editor DYLAN HOWARD and former OBSERVER Pres. MIKE ALBANESE.
SPINMEDIA press rep KATE CAFARO said the company is in exclusive talks with another party to buy its remaining entertainment assets.