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SpinMedia is up for sale, if you want it
By Chris Cooke | Published on Thursday 25 August 2016
SpinMedia, the US-based firm that operates an assortment of music and entertainment websites, including the current output of iconic music magazine Spin, which it acquired in 2012, is up for sale, according to the New York Post.
Despite acquiring some established music titles, SpinMedia has seemingly struggled to make its online media empire deliver in terms of revenue, with the Post citing sources as estimating the company could be currently losing about $5 million a year.
Investment bank Petsky Prunier has reportedly been hired to seek potential bidders, who would also be buying up websites like The Friskly, Idolator, Go Fug Yourself, Celebuzz, Buzznet and Death & Taxes.
An existing web or media player would be the most likely contender to buy the firm. It’s thought broadcaster Univision had expressed some interest, before it bought up various websites out of the bankruptcy of the Gawker company, though it seemingly decided not to proceed with any formal bid.
