Tuesday, July 10, 2012

Soon All the Media Will Be Owned by the Internet

Posted By on Tue, Jul 10, 2012 at 1:00 PM

sugar_ray_spin.JPG

Full disclosure: I worked for Buzzmedia after they bought Idolator from Gawker. Eventually, they killed the freelance budget ending my time on the site, then later restarted the website, firing my boss, and turning the site into a shitty Justin Bieber obsessed fan blog. I wasn't thrilled by that turn of events, but that's life, right?

Enough of my work history, right? I don't know exactly the beginning or end of the age bracket, but if you're a music fan under 50 and older than 25, you probably had a subscription to Spin at some point. As people stopped buying both music and magazines, the publication hit a rough spot, but has actually done a solid job of reinventing itself recently, going to a quarterly publication schedule and focusing on its digital presence. That might be all out the window now, as the company that runs Kim Kardashian's website (and other actually music-related sites, to be fair) is Spin's new owner:

Spin Media, the company behind the alternative-music magazine Spin, has been sold to Buzzmedia, a portfolio of music and celebrity Web sites, in a deal that could expand Spin’s reach online but also calls into question its future as a print publication.

Buzzmedia, which owns or sells advertising for music blogs like Stereogum, Hype Machine and Idolator, and also runs sites for Kim Kardashian and other celebrities, will get Spin’s 27-year-old print magazine as well as its Web site, iPad app and live event business, the two companies announced on Tuesday.

Financial terms were not disclosed. The last time Spin was sold, to the publisher McEvoy Group in 2006, the price was reportedly less than $5 million.

Tyler Goldman, Buzzmedia’s chief executive, said the company would expand Spin’s digital staff.

“Spin to us is more than a print magazine,” Mr. Goldman said. “It’s a great media company for storytelling around music and music culture. People are using multiple platforms to consume more content and context from the brands they believe in, and we see the ability for Spin to bring more storytelling to digital platforms.”

When CEOs start talking about "storytelling," my head starts hurting, but maybe it'll work out for everyone.

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