Spin Magazine Sold to Buzzmedia
Will expand presence of alt-rock mag online, but print fate unclear
By Evann Gastaldo,  Newser Staff
Posted Jul 10, 2012 11:38 AM CDT
Spin magazine has been acquired by Buzzmedia.   (©jm3)

(Newser) – A big change for Spin Media, which has been printing alternative-music magazine Spin for 27 years: It's been sold to Buzzmedia, a Web presence including such music and celebrity blogs as Stereogum, Idolator, and Celebuzz—as well as sites for Kim Kardashian and other such boldface names. Buzzmedia acquired the magazine—which has suffered thanks to the recession and the increasing popularity of online media—plus its website, iPad app, and live event business, the New York Times reports.

While the move will expand Spin's online presence, which it had been working on for some years, there's now a question of whether it will remain a print publication. "Spin to us is more than a print magazine," says Buzzmedia's CEO, adding that the magazine's digital staff will grow, but no decision has been made yet about the print edition. "We see the ability for Spin to bring more storytelling to digital platforms." Spin was particularly popular with the rise of alt-rock in the 1990s, Forbes notes; it was sold once in 1997 for $42 million, then again in 2006 for $5 million. No word on the price this time around.
 

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