Old-Time Media Conglomerate E.W. Scripps Injects Itself With Youth Serum, Acquires Newsy For $35 Million

 
 
 

Media conglomerate E.W. Scripps has purchased Newsy, a digital video “news analyzer,” for $35 million, according to TechCrunch.

Newsy, founded in 2008, has raised about $3.5 million in venture funding. Unlike an acquisition by a tech company — like, say, Yahoo — dusty ol’ Scripps is not likely to shutter Newsy once its inside the mothership. Scripps split into two companies in 2007, with the newly-named Scripps Networks Interactive taking the sexiest divisions, including Food Network, HGTV, and Shopzilla.com. The E.W. Scripps Co., meanwhile, was left with 17 middle-market newspapers and a slew of TV and radio stations; if ever a company needed a buzzy digital acquisition, it’s E.W. Scripps.

 

Newsy currently generates over 100 million unique video views per month, according to a recently released video in partnership with Scripps, and is in essence, a combination of old-school news anchoring combined with new-media curation. Newsy’s on-screen personalities explain and analyze news stories from across the U.S., with many original sources coming from small-community, Scripps-esque news stations. The anchors are a dapper coterie of millennials, standing in a hip newsroom and signing off with traditional newsman parlance (“For Newsy, I’m Zach Toombs.”)

Founder Jim Spencer is a former VP of Content and Answers at Ask Jeeves (Ask.com), as well as the former General Manager of News and Information Programming at AOL.