Buzznet Building An Empire: Aquires Idolator and Stereogum

Buzznet, the pop-culture based social media site partially owned by Universal Music, is currently winning at the internet, acquiring two of the internet’s most popular music websites, Idolator and Stereogum over the past couple of months:

Buzznet says its mission is to  have the web’s largest music community as well as the most robust.  Idolator will continue to maintain its own editorial direction under founding editor Maura Johnston.
Scott Boyd, Buzznet’s general manager, says “This deal also perfectly complements our recent acquisition of Stereogum, the web’s most popular music blog, and will provide Idolator with more resources, enabling Maura to continue building upon the blog’s great success.”
Nick Denton, founder and publisher of Gawker Media said, Buzznet is the “natural acquirer, and will be able to make more of Idolator than we could.”

Wank. IMO Buzznet is on some day late, dollar short kind of shit(even though their last round of funding was to the tune of $25 million) but then again, what do I know?

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