Tuesday, July 10, 2012

BUZZMEDIA Buys Spin

Los Angeles-based digital media and entertainment publisher BUZZMEDIA announced this morning that it has acquired venerable SPIN Media, the publisher of Spin Magazine, the 25 year old brand known for its coverage of music and culture. Financial terms of the buy were not announced by the companies. BUZZMEDIA, which is headed by Tyler Goldman, said the deal includes not just SPIN's print magazine, but also SPIN.com, the SPIN Play app for the iPad, and SPIN's events business. BUZZMEDIA said the buy will complement its existing suite of music sites, which include Stereogum, Idolator, Hype Machine, Pure Volume, Brooklyn Vegan, AbsolutePunk, Buzznet, Concrete Loop, Gorilla vs. Bear, Pop Matters, Punk News, RCRD LBL, and XLR8R. The company said it is now the fourth largest, digital publisher of information on music.