Vibe Imperiled by Sale to Online Giant SpinMedia

By Lora Neng
WWW.STREETGANGS.COM STAFF WRITER
April 26, 2013

The hip-hop community may have to contend with losing a big voice in the scene as  SpinMedia announced its acquisition of Vibe yesterday, encompassing its numerous print and online media outlets.

The New York Times quoted Steve Hansen, SpinMedia’s chief executive: “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.” But how much of that digital DNA will stay has left many in Hip Hop in doubt. The media company previously went by the name of Buzz Media before it bought out Spin to subsequently shut down the print magazine and lay off a third of its staff. However, from another viewpoint the sale could be seen as a reunification rather than one media company being devoured by the other, as they used to be part of the same Vibe/Spin Ventures.

Vibe, founded in 1992 by Quincy Jones and Time Warner, was revived from a temporary shut down in 2009 with an infusion by private equity investors. Hansen said, “We are still trying to find a print model that makes economic sense in the digital age.”

Posted by on Apr 26 2013. Filed under Entertainment. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

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