New Corporation announced on Friday that it is acquiring Storyful for $25 million. “Building on Storyful’s skill in finding verified news amidst the noise of social media, News Corp will use its own global scale, robust digital presence and advertising expertise to enhance and expand Storyful’s video products and services for newsrooms, advertising agencies and brands,” the company said in a news release.
The company added that the unique tools Storyful offers will be used by News Corp to increase “engagement and revenue across News Corp’s businesses.”
News Corp CEO Robert Thompson added: “Storyful has become the village square for valuable video, using journalistic sensibility, integrity and creativity to find, authenticate and commercialize user-generated content.”
