News Corp acquires social media tool Storyful for $25 mln
News Corp has purchased social news tool Storyful for 25 million dollars.
This is the company's first acquisition as a stand-alone company.
According to stuff.co.nz, Storyful verifies and manages the rights holders of news and videos on social media platforms such as Twitter in real time.
News Corp said it would operate Storyful as a stand-alone business unit that will continue to maintain partnerships with other news organisations, including the New York Times, Reuters and ABC News, the report said.
News Corp also plans to extend Storyful's tool to advertisers and marketers so they can verify the social chatter around a brand campaign, it added.