Old media and new media are colliding in E.W. Scripps’s $35 million acquisition of Newsy, a five-year-old startup that specializes in supplying ad-supported curated digital video news for browsers, smartphones, tablets, smart TVs and other connected devices.
Scripps, which owns 19 local television stations and daily newspapers in 13 U.S. markets, said Newsy will become a key news source for digital products in local markets across the country.
It added that Newsy will become wholly owned subsidiary, and that Newsy's 35 full-time employees and its part-time employees will remain in Columbia, Mo. The deal is expected to close on Jan. 1, 2014.