E.W. Scripps Company Buys Newsy for $35 Million
CINCINNATI - The E.W. Scripps Company bought Newsy, the Columbia digital video news provider for $35 million Monday.
According to Scripps, Newsy is a five-year-old startup that has built its early success on a multi-source, multi-platform approach to storytelling.
"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," said Rich Boehne, the Scripps chairman, president and CEO.
Scripps said Newsy allows its audience easy access to several news and information sources. Its revenue comes from advertising and selling news to brands like AOL/Huffington Post, Microsoft and Mashable.
Newsy will operate as a wholly owned subsidiary of Scripps. All 35 employees will remain in Columbia. The deal is expected to close January 1.