News Corp. Purchases Skiff, Invests in Journalism Online

Jun 15, 2010

News Corp. announced the acquisition of Skiff, an electronic reading platform developed by the Hearst Corporation. Financial terms of the Skiff acquisition were not disclosed, but come on the heels of News Corp.'s continued moves towards monetizing its digital content. The Skiff platform is designed to preserve the layout of print publications on mobile devices such as tablets, netbooks, and smartphones. Financial terms of the acquisition were not disclosed.

In related news, Journalism Online announced that News Corp. has purchased a minority stake in the company. The company lets newspapers, magazines, and online-only publishers of quality content collect revenue from their online readers. The terms of the agreement were not announced, other than the fact that News Corp., as a minority investor, will have one seat on Journalism Online's five-person board of directors.

The company also announced that more than 1,500 publishers around the world have now signed letters of intent to launch the Press+tm e-commerce platform. The e-commerce platform allows publishers to choose between multiple options for paid access, allowing each publisher to select its own business model, offerings, and pricing.