E.W. Scripps has announced it has acquired Missouri-based digital video news provider Newsy for $35 million.
“Scripps is committed to participating in the future of digital media,” Adam Symson, senior vice president and chief digital officer for Scripps said in a statement. “Newsy is built for the digital audience, especially on the platforms we’re seeing emerge now with highly connected consumers.”
The digital video news provider produces and curates video news reports for web, mobile, tablet and connected TV. Newsy makes its money through selling advertising on its digital products, selling news and original content to brands like AOL/Huffington Post, Microsoft and Mashable and syndicating its content.
“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. “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.”
Scripps owns 19 local TV stations across the US, including KERO in Bakersfield, CA, KMGH in Denver, CO, and WMAR in Baltimore, MD.
The deal is expected to close January 1.