Scripps Acquires Newsy for $35M in Cash
The E.W. Scripps Company (NYSE: SSP) has acquired Columbia, Mo.-based digital video news provider Newsy, a five-year-old startup that has built its early success on a multi-source, multi-platform approach to storytelling.
"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," Boehne said.
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