Condé Nast has acquired Pitchfork Media Inc., the music-centric digital media company, for an undisclosed sum.
The acquisition effort was led by Fred Santarpia, Condé’s chief digital officer. Pitchfork’s team will report to Santarpia.
“Music content is one of the most prolific genres of content on the Web,” Santarpia said. “The acquisition of Pitchfork reflects Condé Nast’s continued belief in the power of authentic editorial voices to engage influential audiences at scale.”
According to Condé Nast, the deal not only adds a music vertical to its stable of properties, but also gives it access to Pitchfork’s video and live events business.
Pitchfork, which was founded in 1995, runs well-known music events in Chicago and Paris, and targets a younger Millennial audience — a key demographic for media companies looking to nab advertising dollars. The company also has a site dedicated to music and a quarterly print magazine called The Pitchfork Review.
“Pitchfork is incredibly fortunate to have found in Condé Nast, a team of people who share our commitment to editorial excellence,” said Ryan Schreiber, founder and chief executive officer.
Last month, rival Hearst invested $21 million in Complex, a somewhat similar pop culture and music-inspired media company targeting youth.