News Corp buys 'social news' agency Storyful

Dec 20, 2013
A News Corp. sign is seen outside of its offices in New York, October 27, 2004

Rupert Murdoch's publishing group News Corp. said Friday it had acquired the "social news agency" Storyful, which seeks to merge journalism with social media.

US-based News Corp. will pay $25 million for the Irish-based start-up, according to a statement.

The firm acquires and distributes video and user-generated content to its partners, and provides dashboards, analytics and other tools to to help improve their news and advertising efforts online and on mobile platforms.

Storyful, which has been a partner with the News Corp-owned Wall Street Journal, will continue to operate as a stand alone unit from its Dublin headquarters and work with media clients.

"Storyful has become the village square for valuable video, using journalistic sensibility, integrity and creativity to find, authenticate and commercialize user-generated content," said Robert Thomson, chief executive of News Corp.

"Through this acquisition, we can extend the village square across borders, languages and platforms."

Mark Little, founder and CEO of Storyful, said the tie-up will be beneficial for both firms.

"By joining forces with News Corp, Storyful can quickly transform its vision into a global reality," said Little.

"We believe that journalism in the age of social media needs to be open, innovative and collaborative, and so does the business model that will sustain it. News Corp is a natural fit for a company which wants to help reinvent the news industry.

Little added in a blog post: "Our global team of journalists will continue to cover real-time news 24/7. Our technology teams will continue to build tools to power the newsrooms of the future."

"We will continue to serve the world's leading news organizations (with more resources and focus). And we will work with brands, advertisers, non-profits and other organizations to help them realize the full potential of verified video and other online content," Little added.

News Corp. is the publishing and newspaper segment of the Murdoch's recently split media empire, a breakup which created 21st Century Fox for its fast-growing TV and film operations.

Murdoch remains in control of both firms, and is chairman of News Corp, which includes The Wall Street Journal and New York Post newspapers in the United States, The Sunday Times of London and The Sun in Britain, and The Australian in the country of the tycoon's birth.

Explore further: News Corp. board approves split, stock buyback

add to favorites email to friend print save as pdf

Related Stories

News Corp split in motion. Murdoch names unit chief

Dec 03, 2012

Rupert Murdoch put the future of his newspaper and publishing empire in the hands of a fellow Australian on Monday as he set in motion the split of his media-entertainment conglomerate, News Corp.

News Corp, Murdoch open new post-breakup chapter

Jun 28, 2013

A new chapter opens Friday for Rupert Murdoch and his News Corp with the split of the media-entertainment conglomerate as the 82-year-old coincidentally goes through a marriage breakup.

Recommended for you

IBM posts lower 1Q earnings amid hardware slump

6 hours ago

IBM's first-quarter earnings fell and revenue came in below Wall Street's expectations amid an ongoing decline in its hardware business, one that was exasperated by weaker demand in China and emerging markets.

New US-Spanish firm says targets rich mobile ad market

13 hours ago

Spanish telecoms firm Telefonica and US investment giant Blackstone launched a mobile telephone advertising venture on Wednesday, challenging internet giants such as Google and Facebook in a multi-billion-dollar ...

Technip, Heerema win third giant Angolan oil contract

16 hours ago

The ultra-deep Angolan offshore oil project called Kaombo generated the third huge contract in three days on Wednesday when French group Total picked two firms to carry out underwater engineering worth $3.5 billion.

User comments : 0

More news stories

Microsoft CEO is driving data-culture mindset

(Phys.org) —Microsoft's future strategy: is all about leveraging data, from different sources, coming together using one cohesive Microsoft architecture. Microsoft CEO Satya Nadella on Tuesday, both in ...

Floating nuclear plants could ride out tsunamis

When an earthquake and tsunami struck the Fukushima Daiichi nuclear plant complex in 2011, neither the quake nor the inundation caused the ensuing contamination. Rather, it was the aftereffects—specifically, ...

Patent talk: Google sharpens contact lens vision

(Phys.org) —A report from Patent Bolt brings us one step closer to what Google may have in mind in developing smart contact lenses. According to the discussion Google is interested in the concept of contact ...

Quantenna promises 10-gigabit Wi-Fi by next year

(Phys.org) —Quantenna Communications has announced that it has plans for releasing a chipset that will be capable of delivering 10Gbps WiFi to/from routers, bridges and computers by sometime next year. ...

Progress in the fight against quantum dissipation

(Phys.org) —Scientists at Yale have confirmed a 50-year-old, previously untested theoretical prediction in physics and improved the energy storage time of a quantum switch by several orders of magnitude. ...

Meteorites yield clues to Martian early atmosphere

(Phys.org) —Geologists who analyzed 40 meteorites that fell to Earth from Mars unlocked secrets of the Martian atmosphere hidden in the chemical signatures of these ancient rocks. Their study, published ...