Once known as Buzz Media during the old ad network boom, Spin Media has reached its end. The company which has had multiple CEOs within a few years is selling off its flagship website Spin.com, Vibe.com and two other other sites to Prometheus Global Media. Spin and Vibe will join brands like Billboard and Hollywood Reporter. Spin Media CEO Steve Blackwell will join Prometheus as its Chief Strategy Officer. Some of Spin’s and Vibe’s editorial talent is also expected to make the move to Prometheus. But of course there will be some jobs that disappear.
SpinMedia, originally known as Buzz Media, was one of the old-
fashioned ad networks that scored more than $125 million in venture
money over the years using a few of its owned and operated sites while
selling ads for a wide number of affiliated sites. As the price of banner ads collapsed, it lost money and eventually
was forced into an assignment for the benefit of creditors, wiping out
most of the early equity players.
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