08 October 2007

Newsvine Acquired By msnbc.com

Community news website Newsvine has been bought by online news group msnbc.com.

The organisation comprising Microsoft and US television network NBC confirmed that it has acquired the relatively new social media website for an undisclosed sum.

Displaying news stories from around the globe, Newsvine combines user-generated news aggregator functions with discussion forums and original news content written by its members and claims to attract about one million unique users each month.

Co-founder Calvin Tang told users yesterday that Newsvine hopes the deal will enable the site to reach a greater audience and will provide its contributors with more opportunities.

“One of the first things I plan to do once the dust has settled is to begin working with the bright minds over at msnbc.com to develop ways in which Newsvine's best content can make its way to a significantly larger audience,” said Tang.

He added: “I have met with the top executives at msnbc.com and my biggest takeaway from those conversations is that everyone over there is extremely sensitive to altering the very properties that make Newsvine what it is.

“The potential synergy is tremendous, but we will proceed with integrating Newsvine's best attributes with those of msnbc.com and vice versa, with great care and thoughtful consideration.”

Further details on this story can be found at Reuters, Associated Press and CNN.

Meanwhile, Tang’s message to Newsvine members can be read here.



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