Condé Nast has acquired Pitchfork Media, president and CEO Bob Sauerberg announced on Tuesday.
The move will make Pitchfork the music vertical of Condé Nast’s expanding online footprint.
“Pitchfork is a distinguished digital property that brings a strong editorial voice, an enthusiastic and young audience, a growing video platform and a thriving events business,” Sauerberg said. “We look forward to bringing Pitchfork to the network of best-in-class brands of Condé Nast.”
The deal was spearheaded by Condé Nast chief digital officer Fred Santarpia, who will supervise the the acquisition of Chicago-based Pitchfork, which built its reputation largely on the coverage of independent music.
“Pitchfork is incredibly fortunate to have found in Condé Nast a team of people who share our commitment to editorial excellence,” Ryan Schreiber, who founded Pitchfork just out of high school in 1995, said. “Their belief in what we do, combined with their additional expertise and resources, will allow us to extend our coverage of the artists and stories that shape the music landscape on every platform.”
Sauerberg was elevated to CEO of Condé Nast last month, effective Jan. 1. He has been president for five years, wresting the chairman mantle from Chuck Townsend following a year of corporate restructuring.
“We’re digital first, mobile-led, and focused on millennials, whose spending power is increasing quickly,” said Sauerberg in a Wall Street Journal interview.