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News Corp buys Storyful, pioneer global social news agency (VIDEO)

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Mark Little, founder of Dublin-based Storyful
Mark Little, founder of Dublin-based Storyful

Entrepreneurial journalists founded Dublin-based Storyful on the counter-intuitive assumption that journalism was entering as golden age.

It's just that newsrooms weren't prepared for the new news world of the social sharing web.  In 2010, Storyful built what it claims is the first truly social newsroom, “the first news agency of the social media age,” as it branded itself. As Storyful refined the model, the company started partnering with some of the biggest news brands in the world, including ABC News, Reuters, the New York Times, and social platforms such as YouTube.

Founded by former RTÉ journalist Mark Little, Storyful carved out a distinctive niche in the media landscape and attracted the interest of big media players with deep pockets, among them News Corp who paid €18 million or approximately $25 million, the acquisition announced by little on Dec. 20.

“We join News Corp at a moment of transformation. Together, we will combine the authority of premier original content with the authenticity of user-generated content,” Little said. “We will define the opportunities that the digital landscape presents rather than simply adapt to them. Ours will be a powerful and unique partnership.”

Robert Thomson, chief executive of News Corp said, “Storyful has become the village square for valuable video, using journalistic sensibility, integrity and creativity to find, authenticate and commercialize user-generated content. Through this acquisition, we can extend the village square across borders, languages and platforms.”

Among the key players for Team Storyful are Director of Innovation Gavin Sheridan, whose innovative brand of digital journalism was profiled here in Irish Media Nation back in 2010 and CNN alumnus, Executive Editor David Clinch who manages all editorial aspects of Storyful’s global business and relationships with key partners.

According to Little, Storyful will continue to operate from its Dublin headquarters.



MEDIA PINGS: The Irish Business Organization of New York will hold its first event of the new year on Wed., Jan 8, 6:30 PM at Glucksman Ireland House featuring international keynote speaker Kevin Kelly from Galway. He'll offer start-of-the-year motivation based on his book on business execution entitled Do!

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