NEWS CORP BUYS STORYFUL, WHICH CULLS NEWS FROM SOCIAL MEDIA

The new News Corp — composed principally of the old News Corp’s newspaper and book publishing companies that were spun off from its entertainment enterprises — has made its first acquisition by paying $25 million for Storyful, a company that looks for potential news video on social media, verifies it, and distributes it to news businesses. Its clients currently include News Corp’s Wall Street Journal, but they also include several rivals, including ABC News, Reuters and the New York Times, among others. It will continue to operate as a stand-alone company, News Corp executives said.