NEW YORK--(EON: Enhanced Online News)--Petsky Prunier is pleased to announce that it has advised SpinMedia, the leading music and entertainment digital media company, on the sale of SPIN, VIBE, Stereogum, and deathandtaxes, to The Hollywood Reporter-Billboard Media Group.
SpinMedia dominates music and entertainment media through its popular millennial-focused brands. SpinMedia’s digital brands draw upon a 30 year history of powerful music, fashion, and culture access to create influential content that attracts both a loyal audience and blue chip brands who seek to connect with this audience.
The acquisition of SPIN, VIBE, Stereogum, deathandtaxes expands The Hollywood Reporter-Billboard Media Group’s online audience to 45 million readers a month, strengthening its reach among social-media savvy millennials, who value listening to music digitally and live experiences in equal measure. The Hollywood Reporter and Billboard both launched aggressive moves into video earlier this year, with the brands now delivering more than 100 million video views monthly. The Media Group has also partnered with Facebook to create custom content for the recently launched Facebook Live. The acquisition will boost the Media Group’s revenues to more than $100 million a year, two-thirds of which will come from digital and video.
Petsky Prunier, with a team led by Sanjay Chadda, Matthew Kratter, and Anil Kuruganti, served as exclusive financial advisor to SpinMedia.
About Petsky Prunier LLC
Petsky Prunier is one of the leading investment banks to the digital media, marketing, eCommerce, technology, and healthcare services industries. Our firm's merger and acquisition advisory and private placement capital raising services reflect a unique blend of product specialization and industry expertise. Together with strategic consulting firm Winterberry Group, a Petsky Prunier company, our organization represents one of the largest industry-specific advisors providing strategic and transactional services. We offer global reach supplemented through our partnerships with investment bank The Mountain Capital Group in China, as well as Allegro Advisors and o3 Capital in India. Securities transactions are processed through Petsky Prunier Securities LLC, a member of FINRA and an affiliated entity. For more information, visit www.petskyprunier.com.