UMG-backed Buzznet continues to roll up independent music sites. The latest acquisition is Absolute Punk an "alternative music" (haven't heard that phrase in a while) community site. The acquisition, for an undisclosed some, follows recent acquisitions of Stereogum and Idolator, formerly a Gawker Media site. The acquisition helps Buzznet expand the areas it covers, and it gets a community of 500,000 fans. Absolute Punk will remain distinct, maintainings editorial control, with the benefit of added resources. Release.
AbsolutePunk founder and CEO Jason Tate explains more at his blog.
By Joseph Weisenthal