Townsquare Media buys what's left of MOG
Townsquare Media buys what's left of MOG
Beats' acquisition of MOG ultimately carved the company into two pieces, if not quite evenly: it left both the blog content as well as a music-oriented ad network that's popular, if without nearly as much cachet for the technology crowd as the streaming audio. Entertainment outlet Townsquare Media must have seen a bargain in the making given that it just swept in to buy MOG's remaining parts. The deal, which AllThingsD understands is worth $ 10 million, will see the MOG name wiped for good as the ad network and sites slip into Townsquare's collection. While anti-climactic, it still marks the formal end to a significant chapter in cloud music -- MOG at one point was going toe-to-toe with the likes of Rdio and Rha psody, and it now exists only as a memory.
Show full PR text
Townsquare Media Group Acquires MOG Music Network and Will Rename the Business Townsquare Media
Townsquare Media Group Adds Music-Focused Digital Ad Network to Multi-Media Asset Portfolio
Greenwich, CT – August 24, 2012 – Townsquare Media Group announced today that it has acquired the MOG Music Network business from MMN Media, Inc. and will rename the business Townsquare Media.
Launched in 2008, MOG Music Network has aggregated a network of music and music related digital publishers, including leading and highly influential music blogs, reviews sites, concert / event information sites, artist sites and lyrics sites. The network reaches more than 62 million monthly US unique visitors and 170 million monthly global unique visitors, making it the largest music-focused ad network in the United States. This community of music enthusiasts and tastemak ers is highly engaged and attracts significant interest from brand advertisers.
MOG Music Network joins the national premium digital content brands owned and operated by the Townsquare Media Group, including PopCrush, ScreenCrush, Taste of Country, Diffuser.fm, TheFW, Loudwire, GuySpeed and Ultimate Classic Rock, providing a robust premium offering for advertisers seeking to connect with a large-scale audience of music and entertainment enthusiasts.
"This acquisition dramatically expands the consumer reach we provide to our advertising partners, while continuing our focus on delivering highly engaging and influential media experiences for consumers and advertisers," commented Townsquare Media Group Chairman and CEO Steven Price. "Our publishing partners are the tastemakers of the digital music ecosystem as it relates to their ability to connect deeply and emotionally with their audiences and shape music related trends and opinions. This acquisition comp lements our high touch portfolio of radio, digital, mobile and live event assets and helps us to balance our media footprint from local-to-national."
"We now have the privilege of working with many of the most insightful and influential music-related publishers in the world," commented Bill Wilson, Townsquare Media Group EVP and Chief Digital Officer. "I am looking forward to working closely with this group of publishers, learning from them, and helping them to be even more successful, both critically and commercially, by leveraging the amazing assets of the MOG Music Network and our premium owned and operated brands."
"We are excited to join the Townsquare Media Group team and leverage Townsquare Media Group's resources and assets to benefit our publishers and advertising partners," commented MOG Music Network General Manager Rick Vorhaus.
As part of the transaction, MOG Music Network's teams located in Berkeley, Santa Monica, Chicago and Ne w York will join Townsquare Media Group.
Engadget