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EDM Magazine Sells For $2.5m And Will Be Relaunched As Industry Specific Trade ‘Electronic Dance Magazine’



FORMER DJ MAG EDITOR LESLEY WRIGHT ANNOUNCED AS NEW EDITOR-IN-CHIEF

EDM Magazine announced today that it has been acquired by EDMtv Networkfounder and record label executive, Matt Bolton for $2.5M. 

After eight long months of negotiation, founder and CEO of EDM MagazineYoel Berrios has sold the Los Angeles based media outlet due to ongoing health issues. Bolton has confirmed that the magazine will be re-branded and officially launched this December as the industry-specific trade ‘Electronic Dance Magazine’ helmed by media powerhouse and dance music icon, Lesley Wright.

"In line with our editorial vision to cover dance music differently, the magazine will be completely redesigned to create a dance music publication like no other. We're extremely lucky to be working with the amazingly talented designer Sara Raffaghello, former Creative Director at Motivate Publishing, on the redesign. With its exciting new editorial and creative direction, I can't wait to unleash the first new-look issue in late November. Prepare to be surprised."  Editor-in-Chief, Lesley Wright

The business of electronic music has surpassed the 7.4 billion dollar mark according the most recent IMS report, but it lacks a cohesive and unbiased forum for those who make dance music their career. Electronic Dance Magazine wants to change that.

Our intention with the magazine is to be an expert source for those who want substance, not fluff. We will be diligent and purposeful in our coverage and are committed to reporting on all facets of the electronic music culture; the good, the bad and the sometimes, ugly. The magazine will be further defined by well researched business news and topical columns written by experts in their respective fields so that we educate as well as entertain. I know that with Lesley’s unparalleled talent, passion and editorial punch that Electronic Dance Magazine will become the very standard by which all others are measured. We are incredibly privileged to have her and excited to share this vision with our dance music community.”  Matt Bolton

In addition to operating as a new trade, the magazine has committed to donate a portion of profits to the Association for Electronic Music so that AFEM may continue elevating and educating the lives of our dance music community with the ongoing work they provide.

"We are very grateful to Electronic Dance Magazine for their commitment to donate a share of profits to the Association for Electronic Music.  This funding and the opportunity to speak to our industry through editorial and comment enables us to continually educate our fans and professionals, as well as continue to drive for positive change within the electronic music community and the wider industry."
Mark Lawrence- CEO, AFEM

A lingering question is, why sell EDM Magazine, a brand that Yoel Barrios has labored to build for ten years. Posed with the question directly, Yoel had this to say: 

Quite frankly, I never considered selling but two years ago I started dealing with some serious medical issues and I saw the company I love and worked so hard to build take a devastating financial hit due to my absence. After a little over a year, I had no choice but to shutdown distribution. When Matt reached out and expressed interest in purchasing the company, I just could not ignore the possibility of someone resuscitating my life's work.”

The acquisition comes on the heels of big movements with Matt’s EDMtv Television Network which is broadcasting daily to millions across both terrestrial and digital platforms. The network is set to releases some exciting news about their global expansion into Canada in the coming weeks which will provide another 7M households to their potential viewership. EDMtv already boasts a sizeable music video catalog of over 100 labels including; OWSLADim MakBlack Hole, Monstercat and Mad Decent and airs electronic music based content that they have licensed for broadcast from a variety of sources such as record labels, promoters and brands. EDMtv has recently reached a partnership deal with Dance Trippin’ TV that will allow the network to co-brand events and utilize all DT’s worldwide broadcast partners including; DirecTV, AT&T and Holland’s local cable box.

Electronic Dance Magazine will re-launch later this year in both online and print versions. In addition, a one-year free subscription to members of AFEM in good standing is also being offered.

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