Newsy acquired by E.W. Scripps for $35 million
It almost feels like tech bubble time again, with companies being acquired for rather large amounts of money. Yesterday came word that Newsy, the digital-video news firm, was being acquired by E.W. Scripps for $35 million.
“Newsy adds an important dimension to our video news strategy. It’s a next-generation news network designed and built exclusively for digital audiences,” Rich Boehne, Scripps chairman, president and CEO, said in the announcement.
Newsy has been around since 2008 and is based on Columbia, Mo. So far, the company has raised $3.5 million from investors. This will end up being a good pay day for them. But what E.W. Scripps get, besides 35 employees based in Missouri, is hard to tell.
One iTunes user reviewer writes of Newsy: “Why does every story sound like a cheery pitch for a fast food chain?” That’s Newsy.