Graham Media Group, a division of Graham Holdings Co. (NYSE: GHC), has acquired social media company SocialNewsDesk.
SocialNewsDesk creates and provides social media-management software tools for newsrooms and media organizations. The company aims to help newsrooms publish content, manage social strategy, secure social access, measure social analytics and monetize social media, while providing news producers with the ability to manage the flow of information on social media platforms. SocialNewsDesk is in the process of developing a product called SND On Air, which would allow television stations to curate, style and broadcast social content.
Graham Media Group owns five local television stations in Houston, Detroit, San Antonio, Orlando and Jacksonville, Florida. The company was a SocialNewsDeak client before the acquisition.
The target was founded by former journalist Kim Wilson, who worked for WJXT, the station Graham owns in Jacksonville, Florida.
Other recent media deals include Tribune Publishing Co.'s (NYSE: TPUB) purchase of 38 news brands, and Penske Media Corp.'s acquisition of Fairchild Fashion Media.