Condé Nast buys Pitchfork Media

Condé Nast, the publisher that owns magazines like Vogue and Vanity Fair, said on Tuesday that it had acquired Pitchfork Media, the company behind the independent music website and quarterly magazine, for an undisclosed sum.

Pitchfork, founded in 1995, has long been one of music’s independent voices, known for unearthing up-and-coming artists, and for its in-depth reviews. The acquisition will take immediate effect.

It gives Condé Nast a stand-alone music publication with a strong editorial voice, said Fred Santarpia, the company’s chief digital officer, who led the acquisition. It brings “a very passionate audience of millennial males into our roster,” he said.

Pitchfork, he said, is profitable, and it boasts a thriving live events business, with events in Chicago and Paris, and robust video offerings — both vital and growing parts of the publishing business. He declined to say how much Condé Nast paid. The quarterly print magazine, The Pitchfork Review, will continue, Mr. Santarpia said.

“Pitchfork is incredibly fortunate to have found in Condé Nast a team of people who share our commitment to editorial excellence,” Ryan Schreiber, Pitchfork’s founder and chief executive, said in a statement. “Their belief in what we do, combined with their additional expertise and resources, will allow us to extend our coverage of the artists and stories that shape the music landscape on every platform.”

The site’s influence has been growing in recent years, and it has developed a reputation for being able to bolster the careers of artists with a positive review.

In an email to its staff, Condé Nast’s chief executive, Bob Sauerberg, said the deal “reinforces our commitment to building Condé Nast’s premium digital network, focusing on distinctive editorial voices and engaging high-value millennial audiences.”

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Source: The New York Times

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