E.W. Scripps Acquires Digital News Provider Newsy for $35 Million
The E.W. Scripps Co., which owns 19 television stations and newspapers in 13 markets, said Monday it paid $35 million to acquire digital news provider Newsy.
E.W. Scripps will operate Newsy as a wholly owned subsidiary out of the acquired company's headquarters in Columbia, Mo., where it employs 35 full-time workers.
Newsy, a 5-year-old company, describes itself as "a multi-source video news service that highlights unique perspectives from across the media spectrum." It publishes via its own website and through distribution partners including Microsoft, Mashable, and AOL and its subsidiary Huffington Post.
Newsy's website divides news into several categories. On Monday, its "entertainment" section featured video news stories about negative critical reactions to NBC's recent The Sound of Music Live; Susan Boyle revealing her Asperger's diagnosis; Brian's impending return to Family Guy; and a segment asking whether or not the Amazing Spider-Man 2 trailer gives too much away.
"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 Scripps CEO Rich Boehne.
Shares of Scripps, a $1.1 billion company, closed fractionally lower on Monday to $19.48.