News Corp has purchased Storyful, an Ireland-based startup that works with media companies to gather and verify news via social networking sites. News Corp shelled out $25 million for Storyful, which was founded in 2010 by Mark Little, a former journalist.
As part of the deal, Storyful will operate as its own business under the News Corp umbrella. Its existing partnerships with media companies will continue. Little and David Clinch, Storyful’s executive editor, will still oversee the company’s operations. Rahul Chopra, senior VP of video for News Corp, will join Storyful’s management team, and add chief revenue officer to his role.
“Storyful has become the village square for valuable video, using journalistic sensibility, integrity and creativity to find, authenticate and commercialise user-generated content,” said Robert Thomson, CEO of News Corp, in a statement. “Through this acquisition, we can extend the village square across borders, languages and platforms.”
- Condé Nast Cuts 50 Staffers
- Condé Nast to Cut Between 70 and 80 Staffers
- Time Inc. Staffers Reject Contract
- Former Time Warner Cable Retention Agent Details Fuzzy Practices