News Corp. Acquires Skiff E-Reading Platform From Hearst
(Press Release) New York, NY, June 14, 2010 — News Corporation today announced that it has acquired Skiff, LLC, Hearst Corporation's e-reading platform designed to deliver premium journalism to tablets, smartphones, e- readers and netbooks. The Company also announced an investment in Journalism Online LLC, the venture dedicated to enabling newspapers, magazines and online-only publishers of quality content to collect revenue from their online readers. The financial terms of both agreements were not disclosed.
"Today's developments underscore News Corporation's ongoing commitment to create strong business models that support journalism at a time of great change in our industry," said Jon Miller, Chief Digital Officer, News Corporation. "Both Skiff and Journalism Online serve as key building blocks in our strategy to transform the publishing industry and ensure consumers will have continued access to the highest quality journalism."
"We're delighted by this investment and this vote of confidence," said Journalism Online co-founder Steven Brill. "Journalism co-founder Gordon Crovitz added, "We're especially pleased with this investment because News Corp. is the industry leader in making the case that there is value in journalism online for which readers will be willing to pay."
In addition, Mr. Miller named Jon Housman President of News Corporation's digital journalism initiatives. In this newly created role, Mr. Housman, who has worked closely with these initiatives over the past year, will be responsible for driving and managing new business efforts in premium digital journalism. He will report to Mr. Miller.
Miller added, "Jon Housman is the ideal executive to shape these new businesses as we enter this important phase of digital journalism. I have full confidence in his capabilities and look forward to working closely with him and his team to drive these efforts forward."
The Skiff platform specializes in delivering visually appealing layouts for newspaper and magazine content. With the capability to deliver high-resolution graphics, rich typography and dynamic updates, this unique platform has the ability to retain engaging design elements that consumers enjoy while allowing publications to maintain brand identity and differentiation.