More $tereogum news over the weekend, this time focusing on how site founder Scott Lapatine’s former boss, Triple H Media head Jason Hirschhorn, helped hook him up with Pilot Group’s deep-pocketed investor Bob Pittman:
According to one source, Pittman told Hirschhorn to bring him investment ideas. So when Lapatine reached out to Hirschhorn, his former boss at VH1, for advice on how to expand Stereogum, Hirschhorn brought him directly to Pittman.
Armed with new money from both Pittman and Hirschhorn, Stereogum, already singled out by everyone from Entertainment Weekly to The Wall Street Journal as one of the best music resources on the Web, plans to add more writers and go “deeper and narrower” with its indy-rock music coverage. Lapatine will retain creative control and an equity stake in Stereogum, with Pittman and Hirschhorn taking what the source described as more than minority positions.
Thank God! We were worried there wasn’t enough Indy-rock coverage on the web. What we really want to know, though, is how much scratch Lapatine is getting out of the deal: Are we talking Perez Hilton money here? We’re guessing he’s sitting pretty, judging by the emails we received about how Lapatine was celebrating his new arrangement over the weekend at the Nobu in Dubai, where he wore a platinum-tricked “S.U.F.J.A.N.” necklace and drunkenly bragged to the waitress about how he had just “bought” three Fleetwood Mac members. Anyone know the financial particulars?
And does this have anything to do with why the site is down this morning? It’s back. Apparently Mick Fleetwood rolled off the couch and started playing with Scott’s laptop this morning.