Pitchfork has been acquired for an undisclosed amount by Condé Nast
Publisher Condé Nast announced its acquisition of venerable music website and quarterly print magazine Pitchfork on Tuesday. The financial sum of the transaction was undisclosed, but the deal is effectively immediately. Pitchfork was founded in 1995, and is known for supporting undiscovered talent and in-depth album reviews.
Condé Nast boasts a top-notch roster of media outlets including magazines like Vogue and Vanity Fair. The acquisition of Pitchfork gives the publisher a stand-alone music publication as well. Fred Santarpia, Condé Nast’s chief digital officer, commented that the move brings “a very passionate audience of millennial males into our roster.” Chief executive Bob Sauerberg corroborated in an email to staff, writing that the deal “reinforces our commitment to building Condé Nast’s premium digital network, focusing on distinctive editorial voices and engaging high-value millennial audiences.”
Pitchfork boats a successful live events business and video offerings, two key burgeoning elements of the publishing industry. The quarterly magazine “The Pitchfork Review” will continue printing without interruption as well. Pitchfork’s founder and chief executive Ryan Schreiber said in a statement “Pitchfork is incredibly fortunate to have found in Condé Nast a team of people who share our commitment to editorial excellence. 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.”
Via: New York Times