Nearly two months after MOG's music streaming service was acquired by Beats, the company has sold the other half of its business as well. MOG's blog and advertising network, MOG Music Network, has been acquired by Townsquare Media Group, a media company whose assets include 244 local radio stations in 51 markets throughout the US. Through the transaction Townsquare has acquired what MOG describes as "the largest music-focused ad network in the United States," reaching 62 million monthly unique visitors in the country through blogs, review sites, lyrics sites, and more. While terms of the deal weren't disclosed, the New York Times reports that sale price was "slightly more than $10 million" — not too far off from the $14 million Beats paid for the streaming service. As part of the deal MOG's network will be renamed Townsquare Media.
MOG sells ad and blog network for a reported $10 million
MOG has sold the other half of its business, its advertising and blog network, for a reported $10 million.