Scripps Acquires Newsy for $35 Million
CINCINNATI – The E.W. Scripps Co. has acquired Columbia,
Mo.-based digital video news provider Newsy for $35 million. The a five-year-old startup uses a multi-source, multi-platform approach to
“Newsy adds an important dimension to our video news strategy. It’s a
next-generation news network designed and built exclusively for digital audiences,”
said Rich Boehne, Scripps chairman, president and CEO. “Newsy’s uncommon
approach to curation and storytelling has helped it build a strong national
brand, which fits well with both our current media assets and our ambitions to
further develop digital media businesses.
“This acquisition fits our digital strategy to run a national news brand
that both enhances our local content offerings and gives us more access to the
fast-growing digital news audiences and revenues on national platforms.”
Newsy produces and curates video news reports for web, mobile, tablet and
connected TV, allowing its audience easy access to a variety of news and
information sources. Its revenue comes from advertising on its digital
products; selling news and original content to major digital journalism brands
that include AOL/Huffington Post, Microsoft and Mashable; and syndicating its
content. Newsy will become an important news source on the Scripps digital
products in local markets across the country.
Newsy will be operated as a wholly owned subsidiary of Scripps, which has
entered into an agreement to buy Newsy and will pay $35 million in cash for the brand. The deal is expected to close Jan. 1.
“Scripps is committed to participating in the future of digital media,” said
Adam Symson, senior vice president and chief digital officer for Scripps.
“Newsy is built for the digital audience, especially on the platforms we’re
seeing emerge now with highly connected consumers.”
Newsy’s 35 full-time employees as well as its part-time employees will remain