In a letter to readers posted Tuesday, Decatur-based entertainment publication Paste magazine announced that all of its assets had been acquired by online live music retailer Wolfgang’s Vault. The music website boasts the world’s largest collection of live music audio and video and also oversees rock magazine Crawdaddy!
In a statement sent to Intel, Wolfgang’s Vault CEO Bill Sagan said: “We have been fans of Paste for a long time and are thrilled to bring their leadership, brand and valuable content and audience into our family. We believe that Paste’s editorial and sales strength will be a wonderful complement to our broad array of music content.”
Paste co-founder and editor-in-chief Josh Jackson will retain his role in the new arrangement. Via a statement, Jackson said: “We have a deep admiration for what Wolfgang’s Vault offers and are excited to join its family of companies. They bring valuable expertise, vision, commitment and the financial stability we’ve sought for the past couple of years.”
Starting in March, Paste will relaunch with digital subscriptions to coincide with the SXSW Music Festival. With nearly 85,000 followers on Twitter and more than 24,000 Facebook fans, it’s a safe bet that Wolfgang’s Vault wanted to tap into Paste’s devoted music and arts reader base. Reader reaction remained mixed as of Wednesday. Most fans posting comments on the publication’s Facebook page lamented the fact that the deal apparently does not include resuming Paste’s much-loved print edition.
Wrote Paul Malyn: “I guess if it keeps you guys in business, it is good news. But I really hope the new owners can figure out a way to bring the print edition back to life.” In follow-up posts to readers, Paste confirmed the return of its popular music samplers and that the publication “will do our best to take care of” former digital subscribers who paid for content they never received after Paste suspended its paid content offerings last year.
Paste editors advise former and future subscribers to go to the mag’s web home page and sign up for the Paste Lifeline Newsletter in order to receive further updates.