Media conglomerate E.W. Scripps is expanding into the digital video game with the acquisition of Newsy, a five-year-old video news startup that produces content for Web and mobile platforms. The deal, in which Scripps is paying $35 million for the startup, is expected to close on Jan. 1.
In a statement, Scripps chairman, president and CEO Rich Boehne explained, “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,” and noted that Scripps has plans to further develop its existing digital media businesses.
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