Music outlets Spin and Stereogum will no longer be a part of Billboard-The Hollywood Reporter Media Group, parent company Valence Media announced Thursday.
The company is selling Spin to Next Management Partners.
“Spin is one of the most respected music/lifestyle publications,” said theCEO Jimmy Hutcheson via email while announcing the sale. “Boasting millions of readers, Spin began in 1985. In today’s noisy media landscape, brand reputation and authority are more important than ever, and we feel like we have a real winner on our hands with Spin.”
Terms of the deals were not disclosed. Hutcheson declined to comment further beyond his statement.
In its own announcement of the sale, Billboard said, “This past year, Spin’s audience has grown over 40%, and the site successfully rebranded, bringing the iconic black and white logo from Spin’s inception in 1985 back. And artists such as Billie Eilish, Charli XCX and Ty Dolla Sign have graced recent covers. Next Management Partners will assume all assets and has engaged the current team to continue publishing.”
Billboard-The Hollywood Reporter Media Group also announced the offloading of Stereogum Thursday, saying “an agreement has been reached with the leadership of the publication to buy the brand back, with founder and editor-in-chief Scott Lapatine remaining at the helm. Lapatine will also become CEO.”