The Wrap, journalist Sharon Waxman’s nine-year-old entertainment business news site, is building a subscription product by buying a subscription site, reports Peter Kafka of Recode.
Kafka writes, “The Wrap has acquired VideoInk, a niche pub covering the ins and outs of digital media, and the digital video business in particular. VideoInk, which currently sells subscriptions for $30 per month, will keep operating under its current brand for now, but Waxman plans on eventually morphing it into a new brand, which she’ll call Wrap Pro.
“Jocelyn Johnson, who founded VideoInk five years ago and has turned it into a site that often generates industry scoops, will go to work for Waxman, along with writer Matt Lopez. Waxman won’t disclose the sale price, but says she paid for the purchase with stock.
“Waxman says she’ll keep her main site free, but will use Wrap Pro to offer exclusive content to readers who care about the entertainment industry, along with other goodies, like free access to or discounted tickets to gatherings she is hosting as part of a growing events business.”
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