Warner Music Group said Thursday that it is buying Uproxx, the youth-centric digital media company.
The terms of the purchase were not disclosed, but a source with knowledge of the deal said Uproxx was acquired for less than $100 million.
“Uproxx was founded with the mission to deliver the best daily content and programming that shapes the lives of youth culture and the world we are inheriting,” said Uproxx Chief Executive Benjamin Blank, who explained that the deal gives his company a bigger audience and will allow it to build on its music partnerships.
WMG said that Uproxx will continue to be run by Blank and co-founder and Publisher Jarret Myer.
Uproxx, which publishes sites like Uproxx.com, HitFlix and Dime, will continue to function as stand-alone entities separate from WMG.
“In the always-on, attention economy, it’s not enough to simply deliver amazing music to the world. We aim to tell engaging and original stories that influence culture,” said Max Lousada, CEO of Global Recorded Music for WMG. “Uproxx brings together pioneering personalities and credible brands in ways that move huge audiences to talk, listen and share.”
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