Spin Media, the troubled digital media publisher which is home to Vibe.com, Spin.com, Idolator.com and others, is on the block. Univision which just dropped over $100 million to buy Gawker Media is said to have kicked the tires on Spin, but walked away. Spin which used to average about 50 million unique visits across its network, is now pulling in half that. The past few years also so management shuffles at the company. The company finally settled on its
fourth CEO two years ago. Stephen Blackwell the founder of music/lifestyle site Deathandtaxes.com was a publisher among many in the Spin network until he was plucked out to be the company's new CEO. At the time of his appointment he said there was a lot of opportunities for growth, saying he saw nothing but upside. Well as it turns out, that vision wasn't realized. Some believe Spin fell victim to a "eyes bigger than its stomach" growth strategy that lead the company to embark on a shopping spree. Morale was also a major issue at the company due to the management turmoil.
Employees weren't motivated to come in and when they did, they didn't work. This is just the stew finally evaporating. The company will likely be sold off site by site. However not all the sites will make it out alive.
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