The BuzzMedia family just got bigger, glossier, and paper-ier (for now) as the pop culture network that boasts some of the Internet's best time-sucking blogs just announced the acquisition Spin magazine today. Not to be confused with Buzzfeed, BuzzMedia boasts a portfolio of pop culture, entertainment, and music blogs like Go Fug Yourself, Stereogum, Idolator, Just Jared which draw in some 120 million unique visitors monthly, according to Forbes' Jeff Bercovici. And those giant numbers (we can attest the power of the Fug Girls) dwarf Spin's circulation and monthly unique Web visitors. According to Bercovici, the 27-year-old magazine gets around 350,000 and its website draws 1 million monthly visitors. That circulation is down from 530,000 a decade ago, reports The New York Times' Ben Sisario.
Spin's dwindling presence on the music scene, combined with BuzzMedia's ability to make engaging sites, is enough to make you wonder if Spin's days as a print magazine are numbered. "Spin to us is more than a print magazine," Tyler Goldman, BuzzMedia's CEO, told The New York Times. "It’s a great media company for storytelling around music and music culture. People are using multiple platforms to consume more content and context from the brands they believe in, and we see the ability for Spin to bring more storytelling to digital platforms." With the acquisition, BuzzMedia also gets Spin's iPad app, and events business.
No one knows how much BuzzMedia paid for Spin, but The Times notes it was sold for less than $5 million in 2006, a massive loss from the $42 million is sold for in 1997, per Forbes.