San Francisco – Wolfgang’s Vault, a company that offers
vintage concert recordings and memorabilia culled from legendary promoter Bill
Graham and others, announced on Wednesday that it has acquired Paste Magazine.
Financial terms of the transaction were not disclosed.
Decatur, Ga.-based Paste
was founded in 1998 as a website that featured editorial and sold CDs, focusing
on independent and alt-country music.
The magazine was launched in 2002, but by
2009 was struggling financially and asked subscribers for donations so that it
could continue publishing.
"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," said Wolfgang’s Vault CEO Bill Sagan.
"We believe that
Paste’s editorial and sales strength will be a wonderful complement to our
broad array of music content."
Paste plans to relaunch with new digital
subscription offerings in March at the SXSW festival.
Wolfgang’s Vault also
owns live recordings site Daytrotter, and rock music magazine Crawdaddy!