Music-focused social networking destination Buzznet has now acquired Idolator, according to details confirmed Monday.
The purchase price was not disclosed, though Idolator owner Gawker Media appeared interested in an exit. Alongside Idolator, Gawker also shed portfolio blogs Gridskipper and Wonkette. “To be blunt: they each had their editorial successes; but someone else will have better luck selling the advertising than we did,” Gawker Media founder and publisher Nick Denton stated in an internal email.
That presents a challenge for Buzznet, though an aggregation strategy is taking root. The company just purchased Idolator competitor Stereogum, and a recent Universal Music Group investment is providing dry powder. “Music audiences are fragmented across genres; Maura’s Idolator gave Stereogum a good run, but a group with a whole array of music sites will command more attention from record labels than we could,” Denton explained.