Social News in the Spotlight: Newsvine Bought By MSNBC
Posted by Jacqueline on October 7, 2007
Popular social news website Newsvine became part of the MSNBC family this past Friday, solidifying the place of community-driven news on the web. As stated by the founders of purpose of Newsvine was “to build a perfectly different, perfectly efficient way to read, write, and interact with the news.”
According to MSNBC’s coverage of the deal, Newsvine was a perfect fit for their needs.
“Newsvine is local, small, nimble — they don’t come with a lot of things you don’t want,” he said, such as complicated partnerships and contracts. “There isn’t a lot to rearrange.”
Sreenath Sreenivasan, a specialist in new media at the Columbia University journalism school, said the deal was a good fit for both companies.
“As the news environment is changing so quickly, it’s important for more traditional media companies to take advantage of some of these newer technologies,” Sreenivasan said.
Although Newsvine is not as popular as other social news sites (like Digg, Reddit, and such), it has a dedicated community of users and they’ve created plenty of buzz by offering a unique combination of mainstream reporting, user-generated content, and social ranking. Here’s the quote:
“But the site has generated significant buzz since its launch in March 2006 because of its inventive merger of mainstream reporting from The Associated Press and ESPN; the contributions of individual users, who are paid for their writing; and the social media model of user-driven ranking of the news.”
What does this all mean for citizen journalism? Now it will have a home on one of the largest news sources on the web; however, they’re promising that the acquisition won’t destroy Newsvine’s independent spirit.
“Newsvine will now report to one of the largest such companies, but while Davidson said it may “expand a little bit” with msnbc.com’s support, growing from six employees to perhaps 10 or 15, he and Tillinghast both stressed that Newsvine would continue to run as an independent site.”
This entry was posted on October 7, 2007 at 6:53 pm and is filed under Digital Media, Entrepreneurship, General, Innovation, Journalism, New Media, Technology, Web 2.0. Tagged: acquisitions, Entrepreneurship, MSNBC, Newsvine, social news. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.