Cincinnati—E.W. Scripps Co. has agreed to buy Newsy, a producer of video news reports for the Web, mobile, tablets and connected TV, for $35 million in cash. The deal is expected to close Jan. 1.
Newsy will operate as a wholly owned subsidiary of Scripps, and its 35 full-time employees will continue to work at Newsy's Columbia, Mo., headquarters, according to a statement.
“This acquisition fits our digital strategy to run a national news brand that both enhances our local content offerings and gives us more access to the fast-growing digital news audiences and revenues on national platforms,” said Rich Boehne, Scripps chairman, president and CEO, in a statement.
Scripps owns 19 local television stations and daily newspapers in 13 U.S. markets.