News Corp buys Storyful social news

News Corp has acquired Dublin-based social news agency Storyful for €18 million. It said Storyful would remain a stand-alone operation that would complement its existing video offerings, including WSJ Live.

Founder and chief executive Mark Little and David Clinch, executive editor, will stay, with News Corp senior vice president for video Rahul Chopra joining Storyful’s management team as chief revenue officer. Little will report to David Brinker, News Corp global head of business and corporate development.

Storyful’s headquarters will remain in Dublin, with extra business development and ad sales staff hired to work in New York, where News Corp is based.

News Corp said Storyful would continue to work with existing customers, which include its own title the Wall Street Journal, the BBC, New York Times, YouTube, ITN and Channel 4 News.

Storyful discovers, verifies, acquires and distributes video and user-generated content to its partners. The company said it had generated 750m views for its partners from user-generated videos in 2013.

Posted by on Dec 20 2013. Filed under Articles, Business, M&A.

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