Interactive One, the online unit of Radio One, has bought Russell Simmons-founded GlobalGrind, an online site focused on hip hop culture that will anchor iOne’s collection of websites targeting urban millennials. Terms of the deal were not disclosed.
The acquisition cements a previous partnership covering sales, content, tech, product and marketing between the two companies that began in April 2013. Since then, GlobalGrind says its reach has jumped 60 percent to a projected 4.1 million unique visitors this month. Interactive One’s overall collection of sites – including Stuff Fly People Like, HelloBeautiful, TheUrbanDaily and NewsOne – reach 33 million unique visitors a month.
Simmons and GlobalGrind co-President Michael Skolnik will remain involved, with Skolnik serving as editor in chief.
“This acquisition, which perfectly aligns with our existing multimedia brands, allows us to exponentially fast track our Millennial channel expansion strategy by leveraging GlobalGrind’s highly-regarded content,” said Alfred Liggins, president and CEO of iOne parent company Radio One, Inc.
Noted Mr. Simmons, “I have been very proud of the care Interactive One has given my baby under our partnership to date, and am extremely excited to be contributing my points of view on trends and issues of utmost importance within the community, particularly social justice. GlobalGrind will continue to be a pop culture tastemaker and voice for the hip-hop generation.”
Source: Deadline
