News Corp has acquired Irish social news company Storyful for €18 million.
The US-based media firm, which is owned by Rupert Murdoch, said it would use its scale to expand Storyful’s services globally, while also using the start-ups tools across its own business.
Storyful, which was established by former RTÉ journalist Mark Little in 2010, works to source and verify social media content that may be relevant to news organisations.
It also manages the rights of some content on behalf of creators and offers tools for journalists trying to monitor social media activity.
News Corp said Storyful would remain as a stand-alone business unit operating from its Dublin office, and would continue to work with its existing clients.
In a post to Storyful’s blog, Mark Little described the deal as a “good day” for those trying to make better use of social media in journalism. He said the deal would create a “powerful and unique partnership”.