Storyful social media firm bought by Rupert Murdoch

image captionRupert Murdoch was first shown Storyful earlier this year

Rupert Murdoch's media company NewsCorp has bought Storyful, an Irish "social media news agency".

The Dublin-based firm has been acquired for $25 million (£15.3m).

Storyful specialises in licensing and distributing social media content to major news organisations such as the Wall Street Journal and BBC.

"We believe that journalism in the age of social media needs to be open, innovative and collaborative," Storyful founder Mark Little said.

Mr Little set up the company in 2010. He had previously been a presenter on Irish TV network RTE.

Storyful's business is in verifying online video authenticity, and also licenses usage rights to broadcasters for popular viral video.

The company will remain at its current location in Dublin, and will act as a standalone company.

Robert Thomson, chief executive of News Corp, added: "Storyful has become the village square for valuable video, using journalistic sensibility, integrity and creativity to find, authenticate and commercialise user-generated content."

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