Warner Music Group sells Uproxx, HipHopDX and other media assets to Uproxx Founder and CEO Jarret Myer

In February, Robert Kyncl – CEO of Warner Music Group – confirmed that thing WMG is in active discussions to sell its 'owned and operated' media assets UPROXX and HipHopDX.

Now we know who their new owner is.

UPROXX Founder and CEO Jarret Myer, along with media veteran Antoniollo is rich (Founder and former CEO of Complex Networks) and artist/entrepreneur, will.i.amhas established a new company named UPROXX Studios.

This new company has emerged through their strategic acquisition UPROXX, HipHopDX, Coins Magazineand other media properties from Warner Music Group (WMG).

Antoniello joins UPROXX Studios as Partner and Executive Chairman, while will.i.am joins UPROXX Studios as Partner/Investor.

UPROXX, an influential media brand focused on youth culture, has buy by Warner Music Group in 2018.

HipHopDXAnother influential digital media outlet focusing on hip-hop news, reviews and commentary, is buy by WMG in 2020.

The new independent company combines these platforms, UPROXX Studiossay it reaches a combination 170 million-plus monthly visitors in the United States and generate more 12 billion US monthly video views across its media properties.

The creation of UPROXX Studios also includes an exclusive license to represent WMG YouTube inventory for all media sales in the United States.

In a statement released on Wednesday (April 24), Maria Weaver, President of WMX at Warner Music Group, said: “We are delighted to return Uproxx to the team led by brand founder Jarret Myer leadership, alongside other vibrant brands including HipHopDX. ”

“We are excited to return Uproxx to the team led by brand founder Jarret Myer, alongside other vibrant brands including HipHopDX.”

Maria Weaver, WMX

Weaver added: “UPROXX Studios was a natural choice for WMG's US YouTube inventory.

“They have a proven track record with our content and their newly independent company represents a good opportunity for advertisers.”

According to UPROXX Studios, the new company will also integrate AI Technology FYI by will.i.am and FYI radio into its operations.

The partnership includes the creation of AI StoryLabs, described as “a specialist unit within UPROXX Studios that harnesses cutting-edge conversational AI to transform brand communications.”

UPROXX says that the technology will “create new avenues in content creation, advertising, publishing, and audience consumption and distribution.”

Initial projects feature AI-driven performance series, custom radio formats, and technology programs designed specifically for social media that demonstrate “the potential of AI in marketing.”

“Innovation is in our DNA,” said Will.i.am. “Our relentless pursuit of developing new media and platforms will redefine the future of creative expression.

“We are creating products and experiences so groundbreaking that they force the media world to evolve with us. This is our duty as cultural pioneers.”

“Now able to focus solely on the media company, UPROXX Studios is now ready to maximize the explosive potential of its combined assets.”

Jarret Myers

“Now able to focus solely on the media company, UPROXX Studios is now well placed to maximize the explosive potential of its combined assets,” said Jarret Myer.

“We are doubling our growth rate. Expect significant investments in our brand, our team and the experiences we deliver – both creators and audiences.”

Myer added: “Through its partnership with FYI, UPROXX Studios embraces pioneering technology and also signals its commitment to fostering creativity and pushing the boundaries of digital expression. ”

“This is a game changer. We are combining the flexibility and freedom of an independent entity with the reach and resources of a major music label.”

Antoniollo is rich

“This is a game changer,” said Rich Antoniello. We are combining the flexibility and freedom of an independent entity with the reach and resources of a major music label.

“This is the formula for creating groundbreaking content and great brand experiences.”

News about WMG's plan to divest HipHopDx and UPROXX arrive in February, as part of confirming plans to cut headcount at WMG by 10% this year. CEO of WMG Robert Kyncl confirmed on February 7 that Warner is looking for a buyer for UPROXX and HipHopDX.

Elsewhere, Warner is shutting down social meme platform IMGN plus podcast brand Interval Presents, as the company looks to exit its “owned and operated” media properties.

Kyncl told its employees in February that Warner-owned media brands like UPROXX and HipHopDX “operate outside of our core team responsibilities.”Music business worldwide