SpinMedia Acquires ‘Vibe,’ CEO Says Print Mag May Be Obsolete Soon
Yesterday SpinMedia, a company that represents popular web publications such as Spin Magazine, TMZ, Gawker, BuzzFeed and numerous others, announced that they’d purchased 21-year-old entertainment magazine, Vibe. The acquisition also included related digital publications such as Vibe.com and Vibe Vixen.
According to the New York Times, Vibe and Spin joining forces is actually a reunion, as over a decade ago they were a part of the same company Vibe/Spin Ventures.
“[Vibe is] an industry leader in the urban and hip-hop category for decades. It’s really exciting to add this to SpinMedia’s collection of music properties and bring more digital DNA to the team and see what they can do,” said SpinMedia’s CEO, Steve Hansen.
“Joining with SpinMedia will enable ‘Vibe’ to continue to evolve and grow as a vibrant digital media brand,” said Vibe Media CEO Ari Horowitz.
Unfortunately, the acquisition could mean the end of Vibe’s print magazine as we know it. Last summer when the company bought Spin Magazine, they almost immediately shut down the print edition. Although this power play prompted Spin’s online traffic to increase significantly, it also resulted in the laying off of 1/3 of the publication’s staff. Hansen says that the company intends to shut down Vibe’s print magazine later this year as well.
“We are still trying to find a print model that makes economic sense in the digital age,” said Hansen.
Vibe Magazine was founded in 1993 by iconic music producer Quincy Jones.
Will you be sad to see Vibe go? Do you still read print magazines?