Tuesday, May 6, 2008

Buzznet Buys Punk Music Community

Hollywood-based Buzznet, an online social media web site focused on music, has acquired yet another music focused web site, the firm said Tuesday. Buzznet said that it has acquired Absolute Punk, an online web site focused on alternative music, industry news, reviews, and other information about punk music. Financial terms of the acquisition were not disclosed. Absolute Punk was founded in 2000; according to Buzznet, it has an active community of more than 500,000 music fans. The acquisition of Absolute Punk follows recent acquisitions of independent music blogs Idolator and Stereogum. Buzznet is venture backed by Anthem Ventures, Redpoint Ventures, and Interscope.