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Magazine publishing giant Conde Nast has purchased Pitchfork media for an undisclosed sum, the New York Times reports.
The move comes as Conde Nast hopes to connect with a wider audience of ever-coveted millennials. In a statement to the Times, the company's chief digital officer Fred Santarpia boasted that Pitchfork lends "a very passionate audience of millennial males into our roster." Santarpia led the acquisition, which
It gives Condé Nast a stand-alone music publication with a strong editorial voice, said Fred Santarpia, the company’s chief digital officer, who led the acquisition. It brings “a very passionate audience of millennial males into our roster,” he said. The purchase is effective immediately.
Founded in 1995, Pitchfork comes to Conde Nast as a profitable and highly-regarded property with successful live events presences on both sides of the Atlantic. The company's founder and chief executive Ryan Schreiber spoke in rosy tones about the sale. "[Conde Nast's] 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's quarterly print publication, The Pitchfork Review, will continue to be published following the transition.
Following the deal's announcement, Conde Nast chief executive Bob Sauerberg circulated an email in which he underscored a "commitment to building Conde Nast's premium digital network, focusing distinctive editorial voices and engaging high-value millennial audiences."
