News Corp. (Nasdaq: NWS) has acquired Storyful, a social news agency, for 18 million ($25 million).
Dublin-based Storyful aims to find verified news video content to add to a web page called the Storyful Newswire. The company also provides topic-specific channels with video content, alerts for breaking news and an algorithm to identify trends.
News Corp. expects the deal to complement its existing video capabilities. The buyer plans to extend Storyful into new countries and languages. Storyful will operate as a standalone business unit within News Corp.
In September, News Corp. sold the Dow Jones Local Media Group for $87 million to Fortress Investment Group LLC (NYSE: FIG).