E.W. Scripps To Buy Newsy

(RTTNews) - E.W. Scripps Co. (SSP) said Monday that it has entered into an agreement to buy Columbia, Mo.-based digital video news provider Newsy, a five-year-old startup that has built its early success on a multi-source, multi-platform approach to storytelling, for $35 million in cash.

Newsy produces and curates video news reports for web, mobile, tablet and connected TV, allowing its audience easy access to a variety of news and information sources. Its revenue comes from advertising on its digital products; selling news and original content to major digital journalism brands that include AOL/Huffington Post, Microsoft and Mashable; and syndicating its content. The deal is expected to close January 1. Newsy's 35 full-time employees as well as its part-time employees will remain in Columbia.