![]() It's also a strange but informative tale for the players involved: a more than century-old company that started in newspapers is buying a website that started as a knockoff comedy mag from a digital upstart that was once seen by some as the future of media. While not a particularly large acquisition by industry standards, it highlights a growing trend of traditional media companies acquiring web destinations to help find younger audiences - particularly with video. The move gives Scripps another title for its burgeoning digital media efforts that include millennial-focused news service Newsy and podcast platform Midroll. Scripps Company announced that it has purchased online comedy website for $39 million. Now, it's letting go of one of its top properties,. The company's stock, which once traded around $50, now goes for $5.18. Google changed how its search algorithm valued a webpage, a move that sent Demand traffic and revenue plummeting. ![]() Shortly after it went public in January 2011, Demand was valued around $1.5 billion. Watchup Streaming-News Startup Expands Local TV Reach in Deals with Meredith, E.W.Before companies like BuzzFeed, Vox and Vice ruled the digital media world, there was Demand Media.ĭemand built an online media empire during the age of search, making content geared to appear near the top of a wide range of Google entries. The company said Newsy has distribution agreements with the majority of the emerging OTT TV platforms, including Sling TV and Apple TV. In 2015, the company bought podcasting entity Midroll Media, and expanded Newsy, its over-the-top video news brand. Scripps spun off its newspaper holdings in 2015 after merging with Journal Communications. The company said 50% of ’s audience comes directly to the site, and users spend an average of eight minutes engaging with the text and video.Į.W. “What we see is the opportunity to expand upon that and move what they’ve done on the Web, attracting a loyal audience, and accelerate that and expand that into the over-the-top space,” he said. Content from Cracked snares about 20 million views monthly via YouTube, he said. Scripps has plans to use Cracked to further its ambitions in video content distributed via broadband, said Symons, the executive. CNN is about to launch a new primetime program featuring comedian and activist W. by Spanish-language media owner Univision Communications, as well as the successful launch of new TV formats by Time Warner’s HBO and TBS that feature comedians John Oliver and Samantha Bee investigating government and politics with scathing and amusing commentary. Scripps’ purchase follows the purchase of a 40% stake in satire company The Onion Inc. “Younger audiences are faced with expanding choice, but they are just as interested in knowing what’s going on in the world and they want to be informed and entertained at the same time. ![]() “There is a ton of evidence that humor is the lens through which millennials see the news,” said Adam Symson, chief digital officer of E.W. Scripps will buy Cracked from Demand Media for $39 million, the latest signal that media companies are placing more emphasis on humor as a means of reaching a younger group of consumers who seem to enjoy news that is mixed with humor and satire. Scripps Co., a company that is working to move beyond its roots in newspapers, is buying a humor site that was borne out of a cult-favorite magazine.
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