Select Page

Spin, Vibe, Death and Taxes, Stereogum, Idolator, PureVolume, and Buzznet, is said to be exploring a sale of the company. Investment banking boutique Petsky Prunier, has been hired to explore the company’s sale, the New York Post reported. The firm is one of the leading investment banks in the technology, media, marketing, eCommerce, and healthcare industries. It is headquartered in New York, and has additional offices in Palo Alto, Las Vegas, Chicago, Boston, and Tampa. Formerly known as Buzz Media, the company was founded in 2004 by Anthony Batt (CEO), Marc Brown, Kevin Woolery, and Steve Haldane under the name Buzznet. In 2012 it acquired Spin Media, publisher of Spin magazine. After shutting down the print version of the magazine, reducing its staff to about 200, and focusing on advertising, it rebranded itself as SpinMedia in March 2013, and acquired Vibe magazine the following month. In 2014, after experiencing mounting losses and defaulting on over $12 million in debt owed to Silicon Valley Bank, the company went into liquidation under California law to avoid bankruptcy, and re-emerged as Spin Media Group Inc. through a corporate reorganization led by private equity firm M/C Partners, with the participation of Anthem Venture Partners, Focus Ventures, Intel Capital and Interscope Records. Over $125 million in previously raised equity from various venture capital firms, were reportedly wiped out in the process. SpinMedia creates “more than 1,000 mouth-watering stories and videos per day, fueling 45 trusted editorial brands,” the company says, and connects “30 million obsessed fans” around the topics they love. They come because SpinMedia understands the complex relationship between brands, content and millennial consumers. The company provides a platform that feeds their obsession with music and pop culture – and incentivizes them to share stories, join communities, and explore. SpinMedia says it reaches “socially connected millennial influencers, who indulge their passion for pop culture through the brands they buy.” According to comScore, the company had 30 million unique visitors in July 2016. The SpinMedia network of 20 influential music sites “holds the dominant position in online music content creation,” the company says.]]>