Warner Music Group acquires Uproxx

Uproxx Media Group — owner of sites like HitFix, Dime and Uproxx itself — has been acquired.

The Uproxx site focuses on entertainment and pop culture news, and was founded back in 2008. It was bought by Woven Digital in 2014, which eventually rebranded as Uproxx. Like many digital media companies, it includes both a publishing arm and a studio that works with marketers to create videos and other branded content.

Today, Warner Music Group announced that it’s buying the company and its portfolio of websites (minus BroBible, which will continue to operate independently). The company says Uproxx will still to be run by CEO and Chief Creative Benjamin Blank, along with co-founder and Publisher Jarret Myer, and that the individual sites will still have editorial independence.

Back in the 1990s, Myer (pictured above) was one of the founders of hip hop label Rawkus Records, where he worked with Max Lousada — who would eventually become Warner’s CEO of Global Recorded Music.

“UPROXX brings together pioneering personalities and credible brands in ways that move huge audiences to talk, listen and share,” Lousada said in the acquisition announcement. “It’ll be exciting to collaborate with Jarret again, along with Ben and their team, who will thrive in the creative and entrepreneurial environment we’re building. They’ll be great partners as we redefine what it means to be a dynamic, future-focused music company.”

Warner says Uproxx reaches an audience of 40 million people through its websites and other platforms.

The financial terms of the acquisition were not disclosed. According to Crunchbase, Uproxx raised a total of $43.3 million from investors including IVP, Advancit Capital and WPP Ventures.

from Startups – TechCrunch https://ift.tt/2Kmzyf9
via IFTTT