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MSNBC buys Newsvine

Posted on Monday, October 08 2007 @ 17:01:15 CEST by

MSNBC today announced they're going to acquire social news site Newsvine:
As a social news source, Newsvine directly reflects the interests of its audience by encouraging users to write articles, comment on other articles and post links to relevant sites. And now it is getting a corporate parent: MSNBC Interactive News is expected to announce its acquisition of the company Monday, in a move that accentuates the increasing importance of community features on news Web sites.

The deal represents the first acquisition in the 11-year history of MSNBC.com and one of the first times that a leading news Web site has purchased a social news source. The terms of the acquisition were not disclosed.

Newsvine, which is based in Seattle, has received financial backing from Second Avenue Partners.

Charles Tillinghast, the president of MSNBC Interactive News, a joint venture of NBC Universal and Microsoft, said the company intended to keep the Newsvine brand and Web site separate, though some features will be incorporated into MSNBC.com.

"It brings a great community component to our business," Tillinghast said.
Source: CNET



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