Hollywood-based SpinMedia had been skedded to present Friday, May 3, in the afternoon (venue had not been announced).
“Our priorities have shifted and, unfortunately, we’re not able to move forward,” PR director Julia Walker said. “We’re excited to see some great programming, but — this year — we’ll be on the sidelines.”
In February SpinMedia laid off 50 of its approximately 250 employees.
The Interactive Advertising Bureau, which is coordinating the second run of the NewFronts, will not fill the slot with another presenter. “Our focus is on the fantastic lineup and excitement building towards the entire event,” IAB rep Laura Goldberg said.
Buzzmedia acquired Spin Media LLC, publisher of music mag, last July — then shuttered print edition of Spin later in the year.
The new SpinMedia operates a network of 45 music and entertainment websites, including Spin, Celebuzz and JustJared. Buzzmedia properties attracted about 25 million unique visitors in February, according to comScore. With the addition of Spin, company claims it now reaches 40 million uniques and serves 400 million pageviews monthly.