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News Corp. acquires Storyful for $25 million

By
Claire Atkinson
Published Dec. 21, 2013, 6:26 a.m. ET

News Corp. is paying $25 million to acquire Storyful, a social-media news agency, the company said Friday.

The firm combs social-media outlets for both video and potential news stories, which it then serves up to a range of clients, including news organizations and ad agencies.

Both CEO Mark Little and Executive Editor David Clinch will remain with the company. Storyful will become a separate entity within News Corp., which also houses media brands including The New York Post, The Wall Street Journal and Barron’s.

News Corp. CEO Robert Thomson said the move was aimed at accelerating the digital transformation of the company.

“In a world overflowing with digital dross, Storyful surfaces and authenticates news and video amidst the cacophony, using cutting-edge technology and traditional journalistic expertise,” Thomson said.