The rumors that surfaced in early June that Buzzmedia was trying to buy Spin turned out to be true. The New York Times reports that Buzzmedia has purchased the iconic music magazine, with plans to expand the digital side.

Tyler Goldman, Buzzmedia’s CEO, told the Times, “People are using multiple platforms to consume more content and context from the brands they believe in, and we see the ability for Spin to bring more storytelling to digital platforms.”

There was little mentioned about the print version of Spin, although Goldman did say it was “important.” Let’s just hope he deems it important enough to keep around.

Financial terms of the deal were not disclosed.