Conde Nast has made a big move to expand its reach in the vibrant digital music arena with the purchase of Pitchfork Media.
Pitchfork is a highly regarded news and reviews website that also publishes a quarterly print magazine.
Financial terms of the deal were not disclosed. The purchase brings Conde Nast credibility with music aficionados and gives Chicago-based Pitchfork access to the magazine group’s considerable resources. It also underscores Conde Nast’s focus on fostering best-of-breed digital brands with an eye on the future of publishing.
“Pitchfork is a distinguished digital property that brings a strong editorial voice, an enthusiastic and young audience, a growing video platform and a thriving events business,” said Sauerberg. “We look forward to bringing Pitchfork to the network of best-in-class brands of Conde Nast.”
Pitchfork founder-CEO Ryan Schreiber said the company he launched in 1996 was “honored” to join the Conde Nast fold.
“Pitchfork is incredibly fortunate to have found in Conde Nast a team of people who share our commitment to editorial excellence,” Schreiber said. “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.”
Pitchfork president Chris Kaskie said the move should not affect the Pitchfork Music Festival, which is held each summer in Union Park on the West Side.
“Nothing will change with Pitchfork Festival in Chicago (or Paris, for that matter), and (festival promoter) Big Stik remains our partner in this as before,” Kaskie said in an email to the Tribune.
Variety and Tribune staff reporter Tracy Swartz contributed to this report