The Hollywood Reporter-Billboard Media Group announced on Thursday that it has signed a deal to acquire SpinMedia’s music assets Spin, Vibe, and Stereogum.
The deal will give THR-Billboard Media’s group an online audience of 45 million readers per month, according to the publication. Terms of the acquisition were not disclosed.
SpinMedia CEO Stephen Blackwell will be named chief strategy officer and report to THR-Billboard Media Group co-president John Amato.
“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,” Amato said in a statement. “By making these storied brands part of our family, The Hollywood Reporter-Billboard Media Group will be able to fully capture the value of millennials and music, and continue to strengthen its leadership position in this critical arena.”
THR-Billboard Media Group co-president Janice Min added, “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.”
She continued: “The power and scale of these combined, complementary digital assets gives us the ability to deliver even more ways to reach our audience through TV, video, live events, and social and online media.”
The new properties are expected to boost the Media Group’s annual revenues above $100 million, according to THR.