The Hollywood Reporter-Billboard Media Group have announced the signing of a definitive agreement to acquire SpinMedia’s storied music assets including Spin, Vibe, Stereogum and Death and Taxes. This announcement establishes the Hollywood Reporter-Billboard Media Group the world’s largest music brand by digital traffic, social reach, and audience share. With this acquisition, the Media Group’s revenues are given a projected boost to more than $100 million a year, two-thirds of which will come from digital and video. Combined entity of music and entertainment properties will reach 45 million unique visitors and one in every three U.S. millennials.

From Billboard‘s announcement:
“In recent years, we set out to own the topic of music online, and the acquisition of these incredible music assets helps us do just that,” said Media Group co-president John Amato. “By making these storied brands part of our family, The Hollywood Reporter-Billboard Media Group will be able to fully capture the value of millennials and music, and continue to strengthen its leadership position in this critical arena.”

“Bringing in these historic brands under Billboard gives us the chance to serve passionate music audiences from rock to urban to pop in one massive portfolio,” said Media Group co-president Janice Min. “The power and scale of these combined, complementary digital assets gives us the ability to deliver even more ways to reach our audience through TV, video, live events, and social and online media.”

SpinMedia CEO Stephen Blackwell is said to be named Chief Strategy Officer of the newly acquired company and will oversee revenue, digital growth, and product while reporting to Amato. NY Post reports that “A deal by SpinMedia’s owner, M/C Partners, to sell off its few remaining celebrity sites, including Celebuzz, The Frisky and The Superficial, could come as early as Friday, sources tell Media Ink.”

SPIN magazine has been fully digital since late 2012 when BuzzMedia acquired the 27-year-old publication and rebranded it as SpinMedia. Following the SPIN acquisition, Buzzmedia also purchased hip-hop and R&B magazine VIBE and its digital properties.

The Hollywood Reporter and Billboard both have been launching aggressive moves into video throughout 2016 and are currently delivering over 100 million video views monthly. In an exhaustive effort to reach the millennial consumer the Media Group also partnered with Facebook to create custom content on the increasingly popular live video outlet Facebook Live.

Spin, Vibe and Stereogum reach different types of music fans which make’s them an appealing proposition for advertisers that are targeting specific demographics.