While we are pretty accustomed to seeing various media outlets getting gobbled up by corporate America, it seems that they've gotten bored by radio, television and print and have switched to purchasing music sites & blogs like there is no tomorrow. The most active has been Buzznet, of which the Universal Music Group has made a sizable investment in.
Over the past several weeks, social networking site BuzzNet has acquired Stereogum and Idolator, and now we can add Absolute Punk to that growing list. Here is the official announcement from the Punkers:
There have been some rumblings today that we have been "acquired" by Buzznet and I'm excited to let you know that-welp, it's true. Basically not much will change other than AP will reap the rewards of engineering resources through the deal - which puts a smile on my face - that single mouse I had powering the site was getting very tired. I will continue to run the site and all the news and stories will continue to be written and reported by the writers you've grown to know, trust and love.
For those who rumbled about UMG and all that - UMG doesn't own Buzznet, they've made an investment in the company - those are 2 different things. UMG will not have any influence or input into anything AP.net is doing editorially - our editorial will stay true to how it's always been - we cover what we want to cover and what the readers want to see. Period.
So who is next? There are plenty of big music blogs left out there, so it should be interesting to see who becomes the next acquisition of Buzznet, or perhaps another media company will join the fad in will start snatching 'em up like they're Garbage Pail Kids cards or Pokemon characters.