New York - The owners of Sterogum, an indie music blog
founded in 2003, have exchanged their equity stakes in the venture for a share of music-focused social network Buzznet, in a deal that valued Stereogum at
around $5 million, The New York Post reported.
Stereogum is co-owned by founder
Scott Lapatine, former AOL COO Bob Pittman and former MTV Networks chief
digital officer Jason Hirschhorn.
A source told The Post that the deal did not
represent an outright sale of Stereogum, or a move by its owners to cash out.
Related Links:
http://snipurl.com/1uxcv
(N.Y. Post)
http://www.buzznet.com
http://www.stereogum.com
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